FX.co ★ Dollar Steadies Ahead of May Jobs Report

As investors anticipated the release of May's pivotal jobs report, the US dollar index held steady around 98.8 on Friday. This report is expected to shed new light on the economy's health amid ongoing trade-related uncertainties. The dollar faced pressure earlier in the week due to a series of disappointing US economic data, which sparked concerns that President Donald Trump's tariffs might be starting to impede growth. Recent statistics indicated an increase in weekly jobless claims, weaker-than-expected private employment figures, and an unforeseen downturn in services activity. Despite Trump's persistent calls for the Federal Reserve to reduce interest rates, Fed officials have exercised caution, highlighting the heightened uncertainty due to trade policy issues. Consequently, the dollar is set for widespread weekly declines, most notably against the South Korean won, New Zealand dollar, and Australian dollar.