The U.S. Dollar Index ($DXY) has fallen to its lowest level since early December, reaching below 107 and hitting new two-month lows against several currencies. This decline comes amidst a broader weakening of the dollar against several G10 currencies, with the dollar also nearing 2025 lows against the Japanese yen. The drop in the dollar's value follows disappointing preliminary PMI data from the Eurozone and the UK, alongside a rebound in the dollar against the yen after the Bank of Japan (BoJ) Governor Ueda hinted at potential purchases of Japanese Government Bonds (JGBs) to stabilize the market. The dollar's performance is also influenced by soft U.S. jobs and manufacturing data, which have pulled Treasury yields down, leading markets to anticipate a more dovish stance from the Federal Reserve.