The dollar is on track for its biggest weekly decline in nearly three months today after a weak jobs report for June 2026 dampened market expectations about a U.S. interest rate hike.
The dollar continued its decline in early Asian trading, while the euro hovered near a two-week high of $1.1442. Sterling held steady at $1.3361 and was on track for a 1.2% weekly gain, its best performance in nearly three months.
The risk-sensitive Australian dollar reached $0.6935 and is on track to end a four-week losing streak. The New Zealand dollar traded at $0.5702 and rose 1.2% over the week.
The dollar index, which measures the performance of the US currency against a basket of currencies including the yen and the euro, fell 0.2% to 100.77 points after declining 0.5% on Thursday. It is down 0.58% so far this week, its biggest weekly drop since early April 2026.
Job growth in the United States slowed sharply in June 2026, with nonfarm payrolls rising by only 57,000, far below the expected increase of 110,000. The labor force participation rate fell to 61.5%, its lowest level in more than five years.
The Japanese yen reached 161.01 against the dollar in the latest trading, after rising by about one percent in the previous session, moving the currency away from its lowest levels in several decades as the dollar fluctuated.
