Dollar holds losses on US economy concerns, Fed appointments

The dollar weakened amid growing expectations of Federal Reserve rate cuts and concerns about political influence on U.S. institutions. Disappointing jobs data fueled speculation of a September rate cut, while the euro gained support from potential progress in Russia-Ukraine war talks. President Trump’s nominations for Fed positions are also under scrutiny as traders anticipate further rate cuts this year.

​The dollar weakened amid growing expectations of Federal Reserve rate cuts and concerns about political influence on U.S. institutions. Disappointing jobs data fueled speculation of a September rate cut, while the euro gained support from potential progress in Russia-Ukraine war talks. President Trump’s nominations for Fed positions are also under scrutiny as traders anticipate further rate cuts this year.