Economic TimesLean R·
Dollar heads for weekly drop as jobs data dims Fed hike bets
The US dollar experienced its sharpest weekly decline in almost three months, driven by a weaker-than-expected June jobs report. This eased market expectations for immediate Federal Reserve rate hikes, offering a much-needed reprieve for the Japanese yen. Other major currencies like the euro and sterling also saw gains against the softening dollar, indicating a shift in global currency dynamics.
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