The dollar fell Monday amid growing expectations that the Fed will cut 50 basis points on Wednesday, with current market pricing now at over 60% for such a reduction.

The pound advanced ahead of a UK inflation report Wednesday and Bank of England decision Thursday.
Odds stand at around 36% for a 25 basis point rate cut when the UK central bank meets.

The euro rose in modest turnover as bund yields firmed following comments by European Central Bank officials.

ECB chief economist Philip Lane said a gradual approach to dialing back restrictiveness would be appropriate while Slovakia's central bank chief, Peter Kazimir, argued that quick cuts were risky.

Treasury yields fell about 1-4 basis points across tenors.
The 2s-10s curve was up marginally at +6.8bp.

The S&P 500 rose 0.07%, reversing an earlier drop.

WTI jumped 2.48% amid ongoing concerns about the impact of Hurricane Francine on output in the U.S. Gulf of Mexico.

Copper advanced 0.84% amid dollar weakness and lower Treasury yields.

Gold rose 0.20%, setting a fresh record during the session near $2589 per ounce.

Heading toward the close: EUR/USD +0.40%, USD/JPY -0.10%, GBP/USD +0.61%, AUD/USD +0.60%, DXY -0.35%, EUR/JPY +0.26%, GBP/JPY +0.15%, AUD/JPY +0.40%.

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