US Dollar Weakens Against GBP and EUR as Rate Cut Expectations Grow – Key Levels to Watch for GBP/USD and EUR/USD
Key Points:US Dollar Index stalls at 98.20 after a 0.5% drop, as weak NFP data revives September rate cut speculation.CME FedWatch Tool shows 95% chance of a 25bps Fed rate cut in September, up from 48% last week.Trump to announce next Fed Chair soon; dovish pick could add further downside pressure on the dollar.Market OverviewDuring Thursday’s Asian session, the U.S. Dollar Index (DXY) held near 98.20, stabilizing after a 0.5% drop in the prior session. The move followed softer-than-expected U.