US Dollar Sags After Weaker-than-Expected Jobs Data, Fed's Powell Comments
The US dollar declined to multi-month lows against major currencies following weaker-than-expected job growth in February, as the Federal Reserve is likely to cut interest rates multiple times this year. The decline was accompanied by a boost for the euro, which is poised for its best weekly gain in 16 years. Fed Chair Jerome Powell repeated comments that the central bank will be cautious in responding to economic changes.
- The softening labor market may provide some relief to the Federal Reserve as it evaluates inflationary pressures, but the uncertainty surrounding trade and tariff policies remains a concern.
- How will the ongoing trade tensions between the US and other countries impact the dollar's value in the coming months?