US dollar off a one-week high against major currencies

By X-blogger - on August 12, 2024

US Dollar Index Daily Chart

USD was off a one-week high, capping off a turbulent week as traders digested a drop in U.S. jobless claims and the prospect of a looming economic downturn. USD was down against the Japanese yen following a three-day rebound, as firmer-than-expected employment data spurred a paring back in bets for Federal Reserve interest rate cuts later this year.

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