Dollar Selloff Gains Momentum Ahead of NFP
The US Dollar is experiencing a short-term decline as it accelerates toward its August lows ahead of the upcoming Non-Farm Payrolls (NFP) release.
This downward trend has been observed in various currency pairs, including the EUR/USD and GBP/USD.
City Index UK notes that while this selloff may seem like a buying opportunity for some investors, it's essential to consider the associated risks, as trading in leveraged products such as Contracts for Differences (CFDs) can result in losses exceeding deposits.