The dollar index continues to loiter under 99 mark on growing optimism of Federal rate cut, escalating US-China trade tensions and the prolonged US government shutdown. Fed's Powell said on Tuesday that a sharp slowdown in hiring poses a growing risk to the US economy, suggesting that the US central bank will likely cut its key interest rate twice more this year. Meanwhile, US-China trade tensions reignited in recent weeks after the US broadened tech restrictions and China outlined tighter export controls on rare earths could continue to exert pressure on the greenback. The dollar index that measures the greenback against basket of currencies is quoting at 98.34, down 0.2% on the day and at a one-week low. Also, the yield on the US 10-year Treasury note held around 4.02% on Thursday, hovering near its lowest levels since April.

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