US Dollar Faces Labor Market Test After Hawkish Fed Divide
After a hawkish Fed split drove the dollar lower in late July, the first week of August brings key US jobs data that could determine if the greenback recovers.
DXY
Federal Reserve policymakers appeared divided last week, with some officials leaning hawkish, contributing to a sell-off in the US Dollar. The currency now heads into August under pressure.
The spotlight turns to the US labor market with the upcoming employment reports. Investors will gauge whether the data is strong enough to revive rate-hike expectations and support a dollar rebound.
Source: FXStreet Forex News