Crypto
EUR/USD Plunges as Dollar Rebounds After Soft US Jobs Report
The US Dollar rebounded on Monday, pushing the EUR/USD pair lower to around 1.1550 during the early European trading session.
This comes after a significant fall in the Greenback's value against six major currencies on Friday, following the release of soft United States Nonfarm Payrolls (NFP) data for July.
The NFP report showed that employers fired 23K workers, while they were anticipated to create 80K fresh jobs, forcing traders to reassess Federal Reserve interest rate expectations.
The odds of the Fed raising policy rates in the September meeting are now at 46%, a sharp decline from 67% seen a week ago, according to the CME FedWatch tool.