US Dollar Plummets After Weak Jobs Data: GBP/USD and EUR/USD Surge – Latest Forex Analysis & Trends
Key Points:US Dollar Index falls 1.5% after July’s NFP report misses forecasts with only 73K jobs added, fueling rate cut bets.Traders now price in 63 bps of Fed rate cuts by year-end as unemployment ticks up to 4.2%, pressuring the dollar.Trump fires BLS chief, blaming historic job data errors, stoking fears of political influence on key institutions.Market OverviewDuring Monday’s Asian session, the US Dollar Index (DXY) hovered around 98.60, stabilizing after a sharp 1.5% decline on Friday. Th