- The US dollar index has fallen to 96.98, the lowest level since March 2022, as registered on Monday.
- The US dollar loses ground as operators expect the Fed to begin to cut interest rates in September.
- President Trump said that “a great and beautiful bill progresses very well!”
The US dollar index (DXY), which measures the value of the US dollar (USD) compared to six main currencies, continues its loss streak that began on June 19, while negotiating around 97.20 during the European hours on Monday. The operators expect the US employment figures scheduled to be published later in the week, which could offer a new impulse on the US Federal Reserve policy (FED).
The US Non -Agricultural Payroll report is expected to show that the economy added 110,000 new jobs in June, below 135,000 in May. The estimated range is currently between a maximum of 140,000 and a minimum of 75,000. In addition, it is anticipated that unemployment increases to 4.3% from 4.2%.
The US dollar fights in the middle of the growing expectations that the Federal Reserve (FED) cut interest rates at the September meeting. The data showed on Friday that personal spending in the US fell unexpectedly in May, the second decrease of this year. Meanwhile, personal income in the US fell 0.4% in May, the highest decrease since September 2021.
The president of the United States, Donald Trump, published in Truth Social on Monday, saying: “A great and beautiful bill advances very well!” The Trump administration has reduced costs, very substantially, for the US consumer. There has never been anything like this!
The US dollar received down pressure for the dovish comments on Friday from the president of the Bank of the Federal Reserve of Minneapolis, Neel Kashkari, who pointed out that he remained in his opinion that inflation in cooling would allow the Fed to cut its policy rate twice that year, starting in September.
However, the president of the Fed, Jerome Powell, said last week that Trump’s tariff policies could cause a unique price increase, but they could also lead to more persistent inflation. The Fed should be careful when considering additional rate cuts.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the weakest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | 0.05% | -0.22% | -0.14% | 0.01% | -0.24% | 0.00% | |
| EUR | -0.05% | -0.04% | -0.24% | -0.20% | -0.06% | -0.28% | -0.05% | |
| GBP | -0.05% | 0.04% | -0.41% | -0.16% | -0.02% | -0.26% | -0.01% | |
| JPY | 0.22% | 0.24% | 0.41% | 0.09% | 0.29% | 0.03% | 0.28% | |
| CAD | 0.14% | 0.20% | 0.16% | -0.09% | 0.10% | -0.10% | 0.17% | |
| Aud | -0.01% | 0.06% | 0.02% | -0.29% | -0.10% | -0.24% | 0.00% | |
| NZD | 0.24% | 0.28% | 0.26% | -0.03% | 0.10% | 0.24% | 0.25% | |
| CHF | -0.01% | 0.05% | 0.01% | -0.28% | -0.17% | -0.01% | -0.25% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
