The dollar was flat against most major currencies during trading on Wednesday, as the market monitored geopolitical developments and awaited US jobs data.

In trading, the dollar index settled at 99.8 points at 21:35 GMT after hitting its lowest level in six weeks during Monday's session.

Oil price decline puts pressure on the dollar.

The dollar held near its lowest level in six weeks as demand for the U.S. currency as a safe haven waned following a drop in oil prices and growing hopes for progress in talks between the United States and Iran.

The pressure on the dollar came as oil prices returned to trading near $80 a barrel, along with statements by US President Donald Trump confirming that his administration had very good discussions with Iran, which reduced investors' appetite for the dollar as a safe haven.

The decline in oil prices also contributed to a decrease in market expectations regarding the Federal Reserve raising interest rates during its September meeting, as the probability of an increase fell to slightly less than 60%, compared to about 70% at the beginning of the week, which constituted an additional factor putting pressure on the US currency.

US jobs data

Investors are now turning their attention to the monthly US jobs report due on Friday, which is expected to provide important indicators regarding the strength of the labor market and the Federal Reserve's monetary policy path in the coming period.

The ADP private sector jobs index data for the United States for last July will also be released later today.

It should be noted that the Federal Reserve decided last week to keep the interest rate unchanged, but the opposition of three members within the Open Market Committee gave the markets a hawkish tone.

As a result, the likelihood has increased in market expectations that the Federal Reserve may move towards raising interest rates at its upcoming September meeting.