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The dollar index rose on Thursday, breaking a four-day losing streak as markets anticipated Fed Chair Jerome Powell’s upcoming speech at the Jackson Hole symposium.
The dollar extended its recent losses against major currencies on Wednesday after revised data showed U.S. hiring over the past year was significantly weaker than initially reported.
The dollar index continued its downward trend on Tuesday, recording its largest three-day loss since mid-December.
The U.S. dollar experienced broad declines against major currencies on Monday, as investors increasingly anticipate that Federal Reserve Chair Jerome Powell might signal an interest rate cut at the upcoming Jackson Hole symposium.
The upcoming week presents a critical period for financial markets as investors anticipate key events that could significantly impact global economic sentiment.
n North American afternoon trading, the U.S. Dollar Index (DXY) climbed to 102.94, marking a 0.33% gain.