Key Points
NEW YORK (Reuters) The U.S. dollar index fell slightly on Friday after data showed U.S. job growth slowed marginally in June while the unemployment rate rose, underscoring the view the Federal Reserve could begin cutting interest rates in September...
The index, which measures the greenback against a basket of currencies, was last down 0.09% at 105.07, with the euro up 0.06% at $1.0817...
The unexpected rise in the unemployment rate, the deceleration in wage gains and revisions in prior months headline gains all point to a slowing in labor market conditions, said Karl Schamotta, chief market strategist at Corpay in Toronto...
Investors have been watching the labor market and inflation data closely as they try to gauge when the Fed could begin cutting interest rates from nearly two-decade highs...
Futures markets are now pricing in a roughly 72% chance for a 25 basis point rate cut at the Feds meeting in September, up from a 57.9% chance seen a week ago, according to CMEs FedWatch Tool...
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