The US Dollar is losing ground against its main peers on Friday, with the market anticipating a soft US Nonfarm Payrolls Report, due later today, to confirm market expectations that the Federal Reserve will finally cut interest rates in September.The US Dollar Index, which measures the value of the
EUR/USD trades around 1.1670 during the Asian hours on Friday, after recovering losses registered in the previous session. The pair appreciates as the Euro (EUR) gains ground ahead of the Eurozone Gross Domestic Product (GDP) for the second quarter.
Federal Reserve Bank of Chicago President Austan Goolsbee said on Friday that US labor market might be deteriorating, adding that there is a bit of wait-and-see because of uncertainty.