The Swiss Franc has gained increased purchasing power due to the military conflict between Palestine and Israel. Additionally, there have been suggestions that the Fed may not raise interest rates this year, as indicated by one dovish Fed official.

The US Dollar Index (DXY) has started to trend downward due to geopolitical factors and strong non-farm payroll data released on Friday. Furthermore, there is a noticeable decrease in the yields of US Treasury Bonds, with the current yield on the 10-year US Treasury Department bonds standing at 4.66%.

The upcoming FOMC meeting scheduled for Wednesday is expected to have an impact on the future policy direction of the Federal Reserve, which will undoubtedly affect the future demand for the US Dollar.

Additionally, the Producer Price Index (PPI) data set to be released on Wednesday, followed by the Consumer Price Index (CPI) on Thursday, are other crucial data points to watch for assessing inflation trends and the economic outlook in the United States.