US Dollar rebounds despite concerns over labor market, rate cut expectations steady

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On Thursday, the US Dollar measured by the DXY index experienced a rebound, closing in on the 104.00 mark, despite concerns over the labor market.

US Dollar DXY finds some footing closer to 104.00 as sellers seem to take a breather. Federal Reserve officials continue to maintain a cautious stance, with a rate cut expected in September. Concerns over the US labor market might weigh on the USD. The rise came about as sellers appeared to hit the pause button.

US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.

 

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