What’s going on here? The US dollar index (DXY) slipped to a three-week low after June’s jobs report showed slower job growth and a rising unemployment rate, raising the likelihood of a Federal Reserve rate cut this September. What does this mean? Following the release of June’s jobs report, the dollar index dropped by 0.28% to 104.87. The nonfarm payrolls increase of 206,000 fell short of expectations, with the unemployment rate inching up to 4.1%. May’s job gains were also revised downward significantly. These indicators suggest a cooling labor market, leading futures markets to predict a 72% chance of a 25-basis-point rate cut in September, up from 57.9% just a week earlier. This caused
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