Ammon News - The U.S. dollar attempted on Monday to pull itself up from a four-week low on the euro after a dovish pivot from Federal Reserve Chair Jerome Powell sent it tumbling more than 1%.

The U.S currency added 0.1% to $1.1705 per euro, but remained within striking distance of Friday's low at $1.174225, a level not seen since July 28.

It edged up 0.1% to $1.3509 versus sterling , following a 0.8% slide in the prior session, and rose 0.3% to 147.26 yen , clawing back part of Friday's 1% tumble.

The risk-sensitive Australian dollar briefly leapt to a one-week high of $0.6523 on Monday before pulling back to trade little changed at $0.6490. In the previous session, it surged 1.1%.

Traders are now pricing in 84% odds of a quarter-point rate cut on September 17, and a cumulative 53 basis points of reductions by year-end, according to LSEG data. Reuters