DXY Falls Below 99.50 as Yields Ease Amid Weaker-Than-Expected Job Growth

The US Dollar Index (DXY) weakened below 99.50 on Thursday as yields eased.

The DXY, which measures the value of the USD against a basket of six world currencies, traded near 99.40 in early European trading hours.

This decline came after private US companies added jobs at a slower-than-expected pace in August, with ADP reporting a gain of 38,000 jobs, down from 46,000 in July and below the market consensus of 47,000.

The weaker-than-expected ADP Employment weighed on the USD against its rivals, but hawkish comments from Federal Reserve Chair Kevin Warsh could underpin the DXY in the near term.