The market expects the Fed to cut interest rates twice by the end of this year, following the May Consumer Price Index (CPI) report that showed inflation declining again. This has also boosted investor confidence.

On Monday, Philadelphia Fed President Patrick Harker stated that there is a chance of a rate cut this year if economic forecasts align with the Fed's expectations.

This week, investors are closely monitoring Japan's May Consumer Price Index (CPI) data, which is expected to accelerate to 2.6% from 2.2%, potentially supporting the yen again.