Dollar Slides After U.S. Jobs Data Are Much Weaker Than Forecast
The dollar turns lower, dropping well away from an earlier two-month high against a basket of currencies, after U.S. data showed the economy created fewer jobs than expected in July. U.S. nonfarm payrolls rose by 73,000 in July, well below the 100,000 expected by economists polled by The Wall Street Journal. Concerns about tariffs hitting the U.S. economy hard have dimmed recently, but these latest figures could reignite prospects that the Federal Reserve might need to reduce interest rates in September.
