Since Monday, the US dollar, measured by the DXY index, has decreased to 104.30 before slightly recovering, due to US President Joe Biden's expected withdrawal from the presidential race.

President Joe Biden's withdrawal has benefited former President Donald Trump, causing investors to shift towards riskier assets.

Additionally, expectations that the Federal Reserve will adopt a more dovish monetary policy have further weakened the US dollar. Other indicators to watch this week include the second-quarter Gross Domestic Product (GDP) and Personal Consumption Expenditures (PCE), which are expected to add volatility to the US dollar.

Source: Fxstreet