India, Sept. 1 -- The U.S. dollar weakened against other major currencies in the late Asian session on Monday, due to growing speculation that the U.S. Federal Reserve (Fed) may lower interest rates at its September meeting.
According to reports, San Francisco Fed President Mary Daly stated that officials will soon be prepared to lower interest rates and that tariff-related inflation will probably only last temporarily.
Traders also are concerned about the renewed uncertainty about U.S. President Donald Trump's reciprocal tariffs after a U.S. federal appeals court ruled that the majority of his sweeping tariffs were illegal.
In delivering a stunning legal blow to Trump's trade policy, the court said the president overstepped his authorit...