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2025-08-01 23:48:48
The US dollar fell on weak employment data, with markets focused on a shift in Fed policy. The July US non-farm payroll report showed 73,000 new jobs, below expectations of 100,000, and data for the previous two months was revised downward by 258,000, fueling strong market expectations of a September rate cut by the Federal Reserve. The dollar index fell 0.7% to 99.287, retreating from its recent high of 100.257. The euro appreciated 0.9% against the dollar to $1.1512. Federal Reserve Governors Waller and Bowman had previously warned that employment data could overstate growth, and this report supports their views, leading to market expectations that the Fed may accelerate monetary easing. (Dow Jones)
