Dollar steadies after tumble as investors eye imminent Fed cuts

Dollar steadies after tumble as investors eye imminent Fed cuts

Source: EODHD - https://www.investing.com/news/economy-news/dollar-steadies-after-tumble-as-investors-eye-imminent-fed-cuts-4166915
Published: Aug 03, 2025 9:00 PM

By Rae Wee SINGAPORE (Reuters) -A battered dollar edged marginally higher on Monday after a dismal U.S. jobs report and President Donald Trump’s firing of a top labour official stunned investors and led them to ramp up bets of imminent Federal Reserve rate cuts. Data on Friday showed U.S. employment growth undershot expectations in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in labour market conditions. Adding to headwinds for markets, Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer the same day, accusing her of faking the jobs numbers. An unexpected resignation by Fed Governo...

Market context: This update is relevant to AUD traders, with AUDUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.