The US Dollar extended its decline, touching fresh monthly lows against a basket of major currencies. The sell-off was fueled by weaker-than-expected ADP employment data, which reignited market speculation that the Federal Reserve could deliver additional monetary policy easing sooner than anticipated. This data point cast doubt on the labor market's strength, prompting investors to reassess the timeline for potential rate cuts.
The DXY Dollar Index fell sharply as a result, with the EUR/USD pair capitalizing on the Greenback's weakness to push higher. Traders are now keenly awaiting commentary from a slew of scheduled Fed speakers, whose remarks on the economic outlook could provide further direction for the exchange rate. Market participants will be parsing every word for clues on the central bank's next policy moves, ensuring volatility in currency trading.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-11 18:53
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.