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The dollar fell Monday after Fed Chair Powell warned of rising labor market risks, easing price pressures without major job losses.
The dollar dipped slightly on Friday as markets await Powell's speech at the Jackson Hole event, hoping for clues on the Fed's near-term rate cuts.
The dollar hovered near one-year lows as Fed minutes signaled upcoming rate cuts. Many officials noted that US payroll gains might be overstated.
The dollar hit a yearly low against the euro, with traders eyeing US payroll revisions. US bond yields fell to their lowest since early August.
The dollar wobbled near a seven-month low on bets the Fed will cut rates next month, with traders awaiting Chair Powell's comments on Friday.
On Monday, the US dollar struggled in a tight range as investors awaited new clues on interest rate outlooks for the week.
The dollar eased slightly, ending its biggest rally since July 18, as stronger-than-expected retail sales eased recession fears.
Consumer prices fell below 3% for the first time since 2021, causing the dollar to weaken. The pound rose with 0.6% UK Q2 GDP growth.
The dollar lagged on Wednesday as US producer prices slowed and service costs fell the most in nearly 1.5 years, signaling easing price pressures.
The dollar was flat on Tuesday. Traders expect 100 bps of Fed cuts by year-end, per CME Group's FedWatch, after the Sahm rule is triggered.
The yen weakened slightly on Monday in thin trading due to a Japanese holiday as markets remain uncertain about a significant Fed rate cut next month.
The dollar hovered near a one-week high Friday after US jobless claims fell to a year-low. The Australian dollar neared its late-July peak.
The dollar weakened Thursday as carry trades faded. JPMorgan CEO Jamie Dimon believes the odds of a "soft landing" for the US economy are 35–40%.
A BOJ official downplayed a near-term rate hike on Wednesday, adding to a week already marked by fears about the US recession.
