The dollar was last down 0.38% to 0.792 against the Swiss franc, on track to snap three straight sessions of gains

The U.S. dollar was poised to snap a three-day winning streak against the euro and Swiss franc on Monday, as investors digested a barrage of comments from Federal Reserve officials about its latest monetary policy stance.

The dollar hovered near levels seen before last week’s decision by the Fed to begin cutting interest rates. The current pricing is consistent with the central bank’s messaging, which highlighted rising concerns over the U.S. labour market as the key driver of policy, analysts said.

The lack of significant data until Friday’s core Personal Consumption Expenditures (PCE) inflation release leaves investors open to rethinking Fed rate cuts and the plan ahead, said Bob Savage, head of markets macro strategy at BNY.

The dollar was last down 0.38% to 0.792 against the Swiss franc, on track to snap three straight sessions of gains.

St. Louis Federal Reserve President Alberto Musalem said he supported the rate cut at last week’s Fed meeting as a precautionary move to protect the job market, but said there may be “limited room” for further reductions given inflation above the Fed’s 2% target.

Changes in immigration, tax and regulatory policies are set to drive down underlying interest rates in the U.S., and make current monetary policy far too restrictive for what the economy needs to keep inflation at the Fed’s 2% target, Federal Reserve Governor Stephen Miran said on Monday.

Miran last week dissented when the Fed cut the benchmark rate by a quarter of a percentage point, saying that a half-point cut was warranted. Fed chair Jerome Powell speaks on Tuesday.

This whole week seeing a relative dearth of data and with the US Q2 earnings season having largely ended, traders may struggle to find direction for the better part of this week outside of worries about new “emergencies” and in the forthcoming Fed speeches, starting today, Macquarie FX analyst Thierry Wizman said in an investor note.