The US Dollar (USD) index fell on Monday for the fourth straight session as recent remarks by Federal Reserve Chair Jerome Powell were reinforced by a weaker-than-expected US jobs data last week. However, following last week’s alleged interventions, the US dollar appreciated versus the yen.
The dollar index, which compares the value of the US dollar to a basket of key world currencies, was headed for its worst losing run since early March. Fears that the Fed would need to maintain higher interest rates longer were allayed by Friday’s U.S. payrolls report, which revealed the lowest jobs rise since October.
Following the Fed’s policy announcement on Wednesday, Powell stated that rate rises remained improbable. The data helped support his assertions.
