The dollar fell due to disappointing US jobs data, with layoffs reaching more than 150,000 in October, the highest in over 20 years.
Another factor: the market is now considering the possibility that the Federal Reserve (the Fed) could cut interest rates near the end of the year as US economic growth begins to slow.
Furthermore, the partial US government shutdown has exacerbated uncertainty around official economic data, making investors less confident in the dollar as a safe-haven asset.
The USD continues to experience pressure due to a combination of factors, including slowing US economic growth, expectations of interest rate cuts by the Federal Reserve, and fiscal/government uncertainty.
Lower-than-expected inflation has made the market increasingly confident that the Fed will cut interest rates this year, which automatically makes the dollar less attractive as a high-yielding asset.
Source: Newsmaker.id
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