Dollar Loses Some Armor as Economic Data Weaken

The US dollar has lost some of its armor, according to recent economic data. The dollar's strength had been supported by a robust US economy and a Federal Reserve that was still hawkish on interest rates.

However, Friday's payroll miss put the first real crack in this story, making it clear that the Fed may not be as hawkish as previously thought.

CPI is now the next key economic indicator to watch. A soft print would further weaken the case for another Fed hike, leading to a potential decline in the dollar's value.