Dollar tumbles as weak jobs data sparks bets on Fed rate cuts

NEW YORK >> The dollar dropped today and was on track for its biggest daily loss against the yen since January 2023 after data showed that U.S. employers added fewer jobs in July than economists had expected, while last month’s jobs gains were revised sharply lower, leading traders to ramp up bets on how many times the Federal Reserve is likely to cut rates this year.

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