U.S. Dollar Weakens as Fed Rate Cut Bets Grow 🇺🇸💵
•The U.S. dollar dropped today after weak jobs data and signals that the Federal Reserve (the Fed) might cut interest rates soon.
•The latest report from ADP showed U.S. private employers cut 32,000 jobs in November, surprising markets.
•That weak labour data adds to pressure on the Fed to lower rates markets now put roughly an 89% chance on a rate cut at the Fed’s meeting next week.
•Traders are also watching the upcoming services-sector numbers from ISM. If those show slowing activity or price pressures, it could further push the dollar down.
•As the dollar weakens, other currencies like the euro and yen are rising, and investors are betting on easier borrowing costs.
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