Dollar held firm as traders await key employment figures, USD rebound uncertain.
Global markets showed resilience today as the U.S. dollar hovered near a 3½‑year low, waiting on the Labor Department’s June payroll report . A recent U.S.–Vietnam trade deal has boosted sentiment, though traders remain cautious.
The dollar’s stability comes despite recent weakness, helped in part by anticipation that weak job growth could prompt a Fed rate cut. Treasury and gold settlements are being led by this uncertainty—gold up ~25 percent YTD might see pullbacks if data disappoints.
Meanwhile, moves in GBP and EUR have been subtle after bond market jitters rattled UK markets following Rachel Reeves’ emotional appearance in Parliament . Other currencies—like the Vietnamese dong—remain volatile amid tariff concerns.
Markets also await U.S.–Japan/South Korea negotiations, while Trump’s megabill-led fiscal expansion adds a further layer of risk to currency outlooks .
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