June nonfarm payrolls rose by just 57,000, missing expectations and revising May’s gain downward to 129,000.
The US Dollar Index (DXY) fell to near 100.90 after June’s nonfarm payrolls report showed hiring slowed sharply. Employers added only 57,000 jobs, well below forecasts, while May’s figure was revised down to 129,000 from 272,000.
Analysts had anticipated a stronger rebound following May’s mixed data. The weaker-than-expected print suggests cooling labor market momentum, contrasting with earlier signs of resilience.
The dollar’s decline reflects growing bets on potential Federal Reserve rate cuts later this year.