US dollar dips as traders await jobs data
The US dollar dipped on Monday, with everyone watching this week's big labor market reports that could sway the Federal Reserve's next move on interest rates.
Some legal drama is also in play, thanks to Donald Trump's push to remove Fed Governor Lisa Cook.
While the dollar softened, the Aussie and Kiwi dollars got a boost, and China's yuan stayed steady.
Traders glued to upcoming jobs numbers
Even though US markets were closed for Labor Day, traders are glued to upcoming jobs numbers—these could tip the Fed toward cutting rates soon (there's an 87% chance of a rate cut this month).
Ongoing trade tensions and Trump's influence over Fed policy are keeping things interesting for global currencies.
All eyes are now on whether US hiring speeds up or slows down—because that could shake up what happens with interest rates next.