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Dollar falls ahead of US jobs data
The US dollar index declined to around 99.40 as US Treasury yields fell due to weak August employment data, which showed only 38,000 jobs added by private companies—its lowest level since January and below the expected 47,000 jobs. Nonetheless, hawkish remarks from Federal Reserve officials, such as the President of the New York Fed, suggest the possibility of continued interest rate hikes, with a 62% chance of another increase in September. Markets are awaiting Friday's employment data to determine the next step in monetary policy, with expectations that stronger figures could support the dollar in the short term, although their influence on rate decisions may be limited.
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