FX.co ★ Dollar Holds Steady as Traders Await Jobs Data

The dollar index remained steady at approximately 97.8 on Monday, hovering near its lowest levels in a month. Traders were keenly anticipating forthcoming labor market reports, which could influence the Federal Reserve's upcoming policy decision. Key data releases include the August jobs report scheduled for Friday, in addition to statistics on unemployment, job openings, and private sector payrolls. On Friday, the PCE price index confirmed ongoing price increases, adding a layer of uncertainty to the potential for interest rate cuts. Despite this, market sentiment suggests an 88% likelihood that the Federal Reserve will reduce interest rates by 25 basis points later this month. On trade matters, a federal appeals court declared most of President Donald Trump's reciprocal tariffs illegal, granting the administration until October 14 to seek an appeal from the US Supreme Court. Trading activity is anticipated to be subdued with US markets closed in observance of the Labor Day holiday.