U.S. Dollar Index Falls 0.51% This Week, Largest Decline Since Mid-April Amid Rate Cut Bets

According to Guru Club, the U.S. Dollar Index fell 0.51% this week, marking its largest weekly decline since mid-April, as softer-than-expected June U.S. employment data prompted markets to lower expectations for Federal Reserve rate hikes.

In the broader currency market, the euro climbed to $1.1440, gaining about 0.5% on the week, while sterling surged to $1.3352, up roughly 1.1% for its best performance in three months. The Japanese yen rebounded from near four-decade lows, pushing the dollar-yen pair to around 161, though it remains elevated. Japan's government officials have signaled readiness for foreign exchange intervention, with Finance and Cabinet officials monitoring the market closely.