US Dollar Index falls for third day as softer ADP jobs report and ISM data reduce Fed rate hike expectations.
The US Dollar Index (DXY) extended losses for a third consecutive session, trading near 99.65 in Asian hours on Thursday. The decline follows weaker-than-expected US economic data, including a sharp drop in private-sector hiring and a modest rise in services activity.
ADP reported 44K jobs added in July, down from 98K in June and well below forecasts. The ISM Services PMI rose slightly to 54.1 but missed expectations, reinforcing bets that the Federal Reserve may pause tightening. The index remains near its lowest level since mid-June.
Geopolitical developments, including progress in US-Iran talks and Houthi attacks on Saudi oil tankers, added modest support to oil prices but failed to lift the dollar’s safe-haven appeal.