Forex
Dollar Falls to Lowest Level Since May Amid Weaker Job Numbers
The US dollar saw its value decrease on Friday after new labor data revealed weaker-than-expected hiring numbers in July. The Bloomberg Dollar Spot Index dropped by 0.4% to finish the week at its lowest level since May. This decline was widespread, with the greenback falling against all major currencies.
The unexpected job cuts and downward revisions to previous months' hiring figures reduced expectations that the Federal Reserve would raise interest rates in the near term. As a result, traders have become less optimistic about the dollar's prospects, with the least bullish sentiment towards it since June 23.