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The dollar fell on Monday after a poor jobs report. Fed fund futures show a 99% chance of a 50 bps rate cut at the September meeting, per LSEG data.
Sterling fell to a one-month low after a 1% drop as the BOE began cutting rates. The euro stayed near a one-month low despite sticky inflation.
The US dollar fell Thursday as the Fed hinted at a September rate cut. Powell said a pivot is possible if disinflation continues as expected.
The dollar stayed range-bound Tuesday. Traders expect the Fed to hold steady, start easing in September, and cut rates by 65 bps this year.
The dollar inched up on Monday as traders awaited the Fed’s policy decision. The Fed is expected to maintain a wait-and-see stance before September.
Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
The dollar dipped Tuesday as the Trump trade unwound, easing Treasury yields. Harris secured enough delegates for the Democratic nomination.
The dollar fell on Monday as investors reacted to Biden ending his re-election bid. The yen strengthened as June exports rose for the seventh month.
The dollar steadied on Friday, poised to end a two-week decline, as US data fueled speculation on the timing and scale of Fed rate cuts.
The dollar firmed on Thursday after hitting a four-month low, as growing expectations of Fed rate cuts weighed on the greenback and Treasury yields.
On Wednesday, the dollar weakened despite a brief lift from strong retail sales. Traders' attention shifted to potential September rate cuts.
The dollar rose from five-week lows on Tuesday as investors weighed rate-cut prospects after Fed Chair Powell's comments and Trump's re-election odds.
