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US dollar steadies at two-month lows
The US dollar's exchange rate remained near its lowest levels in two months today, following weak US employment data that showed a surprising loss of jobs in July and significant downward revisions to previous gains. This has reduced market expectations of a rate hike by the Federal Reserve in September to around 44%, down from 67% a week ago. Additionally, these figures contributed to a decline in US Treasury bond yields, with the 10-year yield reaching 4.647%. Markets anticipate that the consumer price inflation rate will slow to 2.5% annually in July, pending further data that may influence the interest rate trajectory. The dollar index steadied at 99.62, and the Japanese yen continued its decline against the dollar.
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