US dollar gains slightly despite softer labour market signals

The US Dollar Index (DXY), which measures the US Dollar against a basket of six major currencies, edged higher during Asian trading hours on Monday.

The index traded around the 101.00 level after remaining largely unchanged in the previous session.

Market participants continued to assess the outlook for US monetary policy.

Expectations of further Federal Reserve interest rate hikes later this year helped support the Greenback, even as recent economic data painted a mixed picture.

Fed Expectations Support the Dollar The US Dollar remained resilient as traders continued to price in the possibility of additional interest rate increases before the end of the year.

According to the CME FedWatch tool, financial markets are currently pricing in a 77.3% probability of...

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