Rate Cut Expectations Deepen Dollar Losses

The U.S. dollar fell on Thursday amid a volatile week in the markets, as labor market data raised concerns about the strength of employment in the United States, bolstering expectations that the Federal Reserve will cut interest rates this month.اضافة اعلان

The U.S. dollar index, which measures the greenback against a basket of six major currencies, dropped to 98.178 points after losing 0.17 percent in the previous session. The euro rose to $1.1657, while the British pound held steady at $1.3442. The Japanese yen traded at 148.12 per dollar after slight gains, according to CNN.

Several Federal Reserve officials said on Wednesday that the weakening labor market reinforces their stance in favor of gradual rate cuts. Markets now await the release of Friday’s monthly jobs report, seen as a decisive indicator of the Fed’s near-term policy direction.
—(Petra)