Dollar Holds Steady as Jobs Data Looms

2026-06-29 02:22 By Jam Kaimo Samonte 1 min. read

The dollar index was little changed at around 101.3 on Monday after reaching a more than one-year high last week, as investors awaited the latest US monthly jobs report for fresh clues on labor market strength and the outlook for Federal Reserve policy.

Fed Chair Kevin Warsh reiterated the central bank’s commitment to bringing inflation under control, reinforcing the hawkish tone of his debut earlier this month that prompted markets to scale back expectations for US rate cuts this year.

Markets are now pricing in three Fed rate hikes this year, with the probability of the first increase in September standing above 60%.

Meanwhile, investors continued to monitor developments in the Middle East after oil prices climbed following renewed clashes between the US and Iran around the Strait of Hormuz, although both sides agreed to halt further attacks ahead of peace talks set to resume this week in Doha, Qatar.



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Dollar Holds Steady as Jobs Data Looms
The dollar index was little changed at around 101.3 on Monday after reaching a more than one-year high last week, as investors awaited the latest US monthly jobs report for fresh clues on labor market strength and the outlook for Federal Reserve policy. Fed Chair Kevin Warsh reiterated the central bank’s commitment to bringing inflation under control, reinforcing the hawkish tone of his debut earlier this month that prompted markets to scale back expectations for US rate cuts this year. Markets are now pricing in three Fed rate hikes this year, with the probability of the first increase in September standing above 60%. Meanwhile, investors continued to monitor developments in the Middle East after oil prices climbed following renewed clashes between the US and Iran around the Strait of Hormuz, although both sides agreed to halt further attacks ahead of peace talks set to resume this week in Doha, Qatar.
2026-06-29
Dollar Down for 2nd Day
The US dollar index weakened for a second consecutive session, falling to 101.1 on Friday after a broadly in-line PCE inflation report led investors to slightly scale back expectations for Fed rate hikes this year. The dollar’s losses were most pronounced against the euro and the Swiss franc. Still, the greenback remains up about 0.3% for the week, supported by a more hawkish Fed tone earlier in the month. New Fed Chair Warsh reaffirmed the central bank’s commitment to bringing inflation under control, easing concerns that he might come under pressure from US President Trump to cut interest rates prematurely. The Fed also raised its 2026 PCE inflation projections. Headline PCE inflation accelerated to 4.1% in May, reinforcing the view that inflation remains sticky. Markets are currently pricing in three Fed rate hikes this year, with the probability of the first move in September standing at around 62%.
2026-06-26
Dollar Set for Weekly Gain
The dollar index fell for a second session to 101.2 on Friday, but remained on track for a weekly gain as markets continued to expect the Federal Reserve to raise interest rates later this year. On Thursday, the greenback weakened after the latest US PCE inflation report came in broadly in line with expectations. Although inflation remains well above the Fed's 2% target, the data helped ease concerns about a sharper-than-anticipated pickup in price pressures. Even so, markets are pricing in an 80% chance of a Fed rate hike in December following last week's hawkish pause, while the probability of a September increase stands at around 63%. New York Fed President John Williams also said on Thursday that inflationary pressures are likely to moderate this year but remain uncomfortably high.
2026-06-26