Branch2 Intelligence
Dollar heads for weekly drop as jobs data dims Fed hike bets
Key takeaway
US June jobs miss dims Fed hike bets, dollar falls.
- Step 11st-order: US June payrolls miss expectations, reducing Fed rate hike probability.
- Step 22nd-order: USD weakens broadly; GBP/USD rises, lowering UK import costs for USD-denominated inputs.
- Step 33rd-order: Lower US rates spill over to UK gilt yields, potentially reducing SME financing costs.
Source: Economic Times (Markets)
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