The USD decreased in the first session of the week

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“The market will be focused on whether the economy is likely to accelerate again early next year and whether that causes inflationary pressure or not. The market is increasingly confident that the Fed has completed raising interest rates, but we need to closely follow developments surrounding the geopolitical situation in the world."

Fed Chairman Jerome Powell will give an important speech on October 19, followed by a series of speeches from regional bank leaders.

Previously, Chicago Fed President Austan Goolsbee said it was "undeniable" that inflation in the US had cooled, despite a series of recent economic data that were not very positive.

According to CME Group's FedWatch Tool, Fed funds futures traders are pricing in a 33% chance of another interest rate hike from the Fed this year.

Bank of America analysts Athanasios Vamvakidis and Michalis Rousakis last week were skeptical about the greenback's growth in recent weeks.