The US dollar index reversed early gains to trade lower around 99.3 on Thursday, as initial optimism following the end of the US government shutdown gave way to renewed caution over the country’s economic outlook. Investors are preparing for the release of several key economic indicators that were delayed during the longest US government shutdown on record. Early private-sector data have pointed to a softening labor market and fragile consumer sentiment, while inflation concerns continue to linger. Meanwhile, market expectations for a 25-basis-point rate cut at next month’s Federal Reserve meeting have eased to about 54%, down from nearly 65% a day earlier. The greenback lost ground across major currencies, with the steepest drops recorded against the Australian dollar and the Swiss franc.