US Dollar Steadies After Jobs Report Fallout, Fed Rate Cut Bets Rise
US Dollar Steadies After Jobs Report Fallout, Fed Rate Cut Bets Rise

US Dollar Steadies After Jobs Report Fallout, Fed Rate Cut Bets Rise

News summary

The U.S. dollar weakened significantly following a disappointing July jobs report that showed employment growth well below expectations and downward revisions to prior months, indicating labor market weakness. President Donald Trump's firing of Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her of falsifying jobs data, further unsettled markets and contributed to the dollar's decline. This sequence of events, alongside the unexpected resignation of Fed Governor Adriana Kugler, has heightened expectations for a Federal Reserve rate cut in September, with markets pricing in more than a 90% chance of easing. The dollar fell sharply against major currencies such as the euro and yen but showed some recovery on Monday. Treasury yields also dropped, reflecting investor anticipation of monetary easing. Trump has announced plans to nominate replacements for the Fed and BLS leadership positions soon, signaling potential early influence on the central bank.

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100% Center
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7684cee2-ff92-4e65-86b5-bfb0b188107da3544a73-dab3-486d-ae75-bd4d15f01f55
Center 100%
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2
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0
Center
2
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0
Unrated
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Last Updated
2 days ago
Bias Distribution
100% Center
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