The US dollar continues to face pressure, with the dollar index hitting near three-week lows following the release of weaker-than-expected US non-farm payroll data on Friday.

Data from the London Stock Exchange Group indicates that this employment report has strengthened market expectations for the Federal Reserve to initiate a 25 basis point rate cut at its September 17 policy meeting. However, Deutsche Bank analysts emphasized in their research report that the data was not weak enough to support a more aggressive 50 basis point reduction.

Market attention now shifts to US inflation data scheduled for release on Thursday, as investors seek additional clues to gauge the Fed's rate-cutting trajectory. The US Dollar Index (DXY) is currently trading around 97.767, essentially flat compared to Friday's low of 97.430.