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After the non-farm payroll data release, the US Dollar Index (DXY) plummeted by 40 basis points. Traders are betting on a 50 basis point interest rate cut by the Federal Reserve in September.
Odaily Star Daily News After the non-agricultural data was released, the US dollar index DXY jumped and fell by 40 points, now reported at 103.67. Traders increased their bets on the Fed’s future substantial interest rate cuts. Traders bet that the Fed will cut the Interest Rate by 50 basis points in September. Before that, the unemployment rate rose to 4.3% in July. (Jinshi)