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Dollar Drops to its Three-Week Low as Investors Look Forward to the U.S. Jobs Data
Aug 31, 2021 11:39 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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U.S. Dollar Index dropped to its three-week lowest level of 92.4 today, as investors await U.S. jobs data report on Friday, which may give some clues on the possible monetary direction of the U.S. Federal Reserve.
U.S. dollar has been struggling since Jerome Powell, the Fed Chair said that tapering may begin this year, but the central bank was in no rush to raise the interest rates.
Investors will look closely at the U.S. data later this week to understand the strength of the labor market and be able to estimate the timing of the Fed’s tightening policy.
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