News

04 Aug 2025

The dollar index fell as concerns about the US labor market escalated

The dollar index fell on Monday after disappointing employment data reinforced expectations of an imminent interest rate cut by the Federal Reserve.

The index, which measures the US currency's performance against a basket of six other major currencies, fell 0.25% to 98.92 points at 1:24 PM Mecca time.

The euro fell 0.25% to $1.1555, while the US currency rose 0.3% against its Japanese counterpart to 147.83 yen.

The British pound held steady at $1.327, with focus on the Bank of England's meeting scheduled for Thursday, which is expected to cut interest rates by 25 basis points.

Friday's data showed the US economy added fewer jobs than expected in July, while employment figures for the previous two months were revised down by a significant 258,000, indicating a clear deterioration in labor market conditions

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