The dollar is weakening in advance of Powell’s testimony and important monthly job statistics.

The US dollar fell on Monday as investors anticipated evidence from Federal Reserve Chief Jerome Powell ahead of the February employment report at the end of the week, which will likely influence how much further interest rates are raised by the US central bank.

The dollar index, which compares the performance of the US dollar to six other currencies, was last down 0.1% at 104.53. For the first time since January, the gauge posted a weekly deficit last week.

After delivering jumbo increases last year, the Fed has increased interest rates by 25 basis points in its last two sessions, but a slew of resilient economic data has fueled market worries that the central bank will resume its aggressive stance.

Futures indicate a 72% probability that the Fed will increase interest rates by 25 basis points at its March 22 meeting.

The focus will be squarely on the February employment report, which is planned for Friday, as well as Powell’s congressional testimony on Tuesday and Wednesday.

“Of all the events this week, payrolls will be the most significant,” Rabobank currency analyst Jane Foley said.