USD needs desperately a solid NFP to stem further losses – MUFG DollarIndex NFP Banks Fed
Chair Powell. A strong Nonfarm Payrolls report is needed to reverse the greenback’s decline, economists at MUFG Bank report.“The lack of strong pushback against loosening of financial conditions has given market participants the green light to continue chasing recent risk-on trends including a weaker US Dollar.”releases yesterday were also unfavourable for the USD showing a further loss of growth momentum in the labour market and a worrying drop in business confidence.
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