US Dollar Edges Lower Ahead of Jobs Report That Could Sway Fed Rate Path
• US Dollar Index (DXY) trading lower around 103.70 to start the week, eyes on US jobs data this week • Nonfarm Payrolls (NFP) and other labor market data key for Fed policy and interest rate cuts • DXY faces bearish momentum short-term, but long-term bullish backdrop remains • Employment levels affect currencies as gauge of economic health and inflation implications • Wage growth important for central banks to gauge inflation; Fed has dual mandate including maximum employment