The dollar index fell to a 2-month low

On Wednesday, the dollar index fell to its lowest value in two months after labor market data confirmed the view that the US Federal Reserve may not need to raise the rate even more.

According to statistics released yesterday, the number of vacancies in the United States fell in February to the lowest level in almost 2 years, which indicates that a higher rate is beginning to worsen the situation in the labor market. The monthly Vacancy and Turnover Survey (JOLTS) report showed that the number of vacancies fell by 632 thousand to 9.9 million.

Against this background, the dollar index collapsed to 101,090 points and reached a 2-month low. Analysts believe that the JOLTS data may be the first signs of weakness in the US labor market.

On Friday, the monthly Non-Farm Payrolls employment report from the US Department of Labor will be published. These data are very important, because the future rhetoric of the Federal Reserve System will largely depend on them.