The dollar fell to a three-month low on Monday as traders stopped believing the Federal Reserve would raise rates again. US payrolls collapsed by 23,000 in July with May and June revisions cutting a combined 103,000 jobs, pushing unemployment to 4.1%. Retail sales dropped 0.6% to $763.6 billion while inflation cooled to 3.4% year-on-year. Gold surged to $4,407 per ounce, gaining 9.3% in a month, but Bitcoin only rose 0.7% to $63,572, losing 0.8% over the same stretch. Minutes from the July FOMC meeting, due Wednesday, will reveal whether the three dissenting members were right to push for a rate increase.
Source: Read the original article
