US Dollar DXY finds some footing closer to 104.00 as sellers seem to take a breather.
Federal Reserve officials continue to maintain a cautious stance, with a rate cut expected in September.
Concerns over the US labor market might weigh on the USD.
On Thursday, the US Dollar measured by the DXY index experienced a rebound, closing in on the 104.00 mark, despite concerns over the labor market. The rise came about as sellers appeared to hit the pause button. Market anticipations of a rate cut in September by the Federal Reserve and the frailty in the US labor market will be key topics to follow as they might put additional pressure on the currency.
The US economic outlook shows indications of disinflation, with financial markets expressing confidence in a rate cut in September. Despite this, Federal Reserve officials display reluctance to rush into interest rate cuts and still adhere to a data-dependent approach.
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