The dollar edged lower during Asian trading hours as financialmarekt predicted a higher probability of a 50 basis point rate cut by the FOMC this week. However, Kristina Clifton, FX strategist at the Commonwealth Bank of Australia (CBA), said liquidity remained thin as markets in Japan and China were closed for public holidays. She said the Fed funds rate futures market showed a 60% chance of a 50 basis point cut by the Federal Reserve, compared to Friday's forecast of around 50%. Clifton added that the dollar could weaken this week as the global easing cycle weighs on safe haven currencies. However, if dovish expectations from the Federal Reserve fall through at this meeting, the dollar could rebound later in the week.