U.S. Dollar Index Falls 0.49% This Week, Hits 3-Week Low Amid Rate Hike Uncertainty

According to Yonhap Infomax, the U.S. dollar index fell 0.49% this week to 100.872, marking its lowest level in three weeks as weak June nonfarm payroll data (57,000 jobs added) dampened expectations for a near-term Fed rate hike.

The dollar weakened against major currencies, with USD/JPY declining 0.23% to 161.383 yen and EUR/USD rising 0.45% to 1.14370 dollars. Meanwhile, the Reserve Bank of New Zealand is expected to initiate its interest rate hiking cycle at a policy meeting on July 8.