Dollar faces largest weekly drop in 3 months

The US dollar headed towards its biggest weekly loss in about three months today, Friday, due to a slowdown in job growth in June and the markets holding back on further expectations of a US interest rate hike. The dollar index fell to 100.77 points, recording a weekly loss of 0.58%. Meanwhile, US Treasury yields declined amid slower job growth and reduced expectations of rate increases. In contrast, other major currencies such as the euro and the British pound remained stable, while the Japanese yen continued to attempt recovery amid anticipation of a possible Japanese intervention in the foreign exchange market.

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