The US dollar index fell to 99.6 on August 10, its weakest level since early June, after a shockingly weak July payrolls report showed the US economy shed 23,000 jobs versus expectations of an 80,000 gain. The unemployment rate climbed to 4.1%, sending Federal Reserve rate hike expectations plummeting from 67% to approximately 44% for September. Treasury yields dropped to 4.637% while the euro strengthened to $1.1558. Market attention now turns to the July CPI release on August 12, with core inflation expected to show a 0.2% monthly increase and an annual rate of 2.5%.
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