Mumbai, Aug. 7 -- The dollar index slips under 98 mark in Asian hours on Thursday awaiting further developments surrounding the next US Federal Reserve Chairman. US President Donald Trump announced on Tuesday that he will appoint the Fed's Chair and Kugler's replacement by the end of the week. Meanwhile, weaker-than-expected US data this week alongside nonfarm payrolls report for July pointed to a cooling labor market and boosted expectations that the US Federal Reserve (Fed) will slash rates. All eyes are now awaiting initial jobless claims for further signals.

Meanwhile, Federal Reserve Bank of San Francisco President Mary Daly said on Wednesday that the Fed still has some ground to cover on its fight with inflation pressures despite o...