Dollar hovers near two-week low ahead of Fed June meeting minutes

BAGHDAD, Iraq — The U.S. dollar traded near its lowest level in two weeks on Monday as expectations for a Federal Reserve rate hike at the June meeting weakened. The euro stood at $1.1435, while the pound reached $1.3351. The dollar index, which measures the greenback against six major currencies, held steady at 100.9. The dollar's slide followed a pronounced slowdown in U.S. job growth in June, which led markets to scale back bets on monetary tightening later this year. Investors are awaiting the release of the minutes from the Fed's June meeting this week for fresh signals on the policy path. Meanwhile, the Japanese yen traded at 160.57 against the dollar, remaining in its weakest range since 1986. Markets are monitoring the possibility of intervention by Japanese authorities to support the currency, with some analysts warning that any such action may struggle to produce a lasting shift in the yen's direction.