The Bloomberg Dollar Spot Index fell 0.9% in August, extending July's 1.3% decline and marking its longest losing streak since February. US Treasury Secretary Scott Bessent publicly stated on Monday that he and Federal Reserve Chairman Warsh are "on the same page" regarding bond issues. This follows Bessent's announcement earlier this month to expand the Treasury buyback program, which fueled market speculation that US policy aims to weaken the dollar. Despite Warsh's pledge last Friday to restore US inflation to the 2% target, which led to a significant single-day jump in the dollar, the currency fell back by 0.2% on Monday. Traders have increased their bets on a Federal Reserve rate hike this year, with the market pricing in over a 50% probability of a September hike.