US dollar dips on rate cut expectations
The US dollar is slipping as investors expect the Federal Reserve to cut interest rates soon, following weak job numbers and more people filing for unemployment.
With a 94% chance of a rate cut in September, the dollar index edged up 0.1% to 98.259 in early trade in Asia after a 0.6% slide in the previous session.
At the same time, political drama—like President Trump firing a labor official tied to jobs data and making new Fed nominations—is adding to market nerves.
Euro holds steady on Russia-Ukraine peace talk hopes
A weaker dollar can make US goods cheaper abroad but also signals worries about the economy slowing down.
Political moves that might influence the Fed are raising questions about its independence, which matters for global trust in US markets.
Meanwhile, the euro is holding steady thanks to hopes around Russia-Ukraine peace talks, showing how world events keep shaping what happens with your money—even if you're just watching from your phone.