Market analysis: As market expectations for a Fed interest rate cut rise, the US dollar index falls.

In the early trading in Asia, the US dollar index weakened, as the market's expectations of a rate cut by the Federal Reserve continued to rise, reducing the attractiveness of US fixed-income assets. The US dollar index fell by 0.3% to 98.842. NAB's Ray Attrill commented that the US dollar has been influenced by a range of factors, including poor performance in the US non-farm payroll report. The Federal Reserve funds futures market shows that the likelihood of a 25 basis point rate cut by the Federal Reserve in September has increased from around 40% before the non-farm payroll report to 88%. Attrill, head of the forex research department, also pointed out that the resignation of Fed Governor Kudlow increases the possibility of the Fed board taking action to lower interest rates earlier.