Dollar Falls for 3rd Session
The dollar index slipped below 98 on Tuesday, extending its decline for a third straight session. While little changed for September overall, the greenback is still set to post a 1% gain for the quarter.
The currency has faced pressure from global trade tensions, doubts over US economic resilience, and Federal Reserve rate cuts, with the threat of a government shutdown adding further headwinds.
On the data front, job openings held steady at 7.2 million in August, suggesting relatively stable labor demand. If a shutdown is avoided and data releases proceed as scheduled, Friday’s nonfarm payrolls report will provide fresh insight into the cooling labor market.
Markets have fully priced in a 25 bps cut to the fed funds rate in October, while odds for another similar move in December stand around 72%.
Source: Trading Economics