Dollar heads for biggest weekly drop in 12 weeks as June jobs data cool September hike odds; yen strengthens past 161
AI Market Summary
A softer U.S. jobs report and downward revisions to prior payrolls reduced near-term Fed tightening expectations, with CME FedWatch implying a lower probability of a September hike. The U.S. dollar weakened broadly, driving the DXY toward its largest weekly drop in 12 weeks, while Treasury yields fell modestly. FX moves favored JPY, EUR, and GBP, though potential Japanese intervention risk remains a key near-term volatility factor.
Impact level
● Medium
Affected assets
NCSIDXY2USD/USDT+0.00%
AI Insight · NCSIDXY2USD/USDTAI Insight
● Neutral
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A moderate U.S. June jobs report and downward revisions to the prior two months’ payroll figures cooled expectations of a September Federal Reserve rate hike, with the CME FedWatch tool putting the odds at 45%. The dollar index is set for its largest weekly fall in 12 weeks. The yen strengthened past 161 per dollar, while the euro rose to a near two-week high and sterling climbed to its strongest level in nearly three months. U.S. 2-year Treasury yields fell 4 basis points.
