The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, strives for a firm footing during the European session on Tuesday after posting a fresh six-week low near 97.30 earlier in the day.
The GBP/USD pair gathers strength to around 1.3560, the highest since August 15, during the early European session on Tuesday. The US Dollar (USD) weakens against the Pound Sterling (GBP) as weaker US jobs data shore up the case for deeper Federal Reserve (Fed) interest rate cuts.
The Japanese Yen (JPY) is weak, down 0.3% against the US Dollar (USD) and underperforming all of the G10 currencies to start the week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.