The US dollar's recent performance has been characterized by its continued strength, which has persisted overnight and intensified since the end of th
e previous week. This has led to the dollar index approaching its peak from last month, specifically reaching a level of 104.45 as of August 25th. Additionally, the index is in proximity to the intra-day high recorded on May 31st at 104.70, and a breakthrough at this level could potentially pave the way for a further rebound of the US dollar, targeting the year-to-date high recorded on March 8th at 105.88.
The report revealed that employment growth has averaged 150,000 jobs per month over the last three months, reflecting a more pronounced deceleration compared to the average of 287,000 jobs per month in the first five months of the year. This slower pace of job creation provides the Federal Reserve with more confidence in the softening demand for labour.
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