Gold News reported that the US dollar fell slightly during Asian trading hours, as financial markets anticipated a higher likelihood of the Federal Open Market Committee cutting interest rates by 50 basis points this week. However, Kristina Clifton, a currency strategist at Commonwealth Bank of Australia (CBA), said that market liquidity remains thin due to the Japanese and Chinese markets being closed for public holidays. She said that the federal funds rate futures market is showing a 60% chance of a 50 basis point rate cut, compared to around 50% last Friday. Clifton added that the dollar could weaken this week as the global easing cycle pressures safe-haven currencies. However, if the Fed's dovish expectations are dashed in this meeting, the dollar could rebound later this week.