The dollar continues to weaken, and analysts expect the Federal Reserve to remain on hold in December

According to Jinshi reports, the September non-farm payroll report showed an unexpected rise in the unemployment rate, leading to a continued weakening of the dollar. Danske Bank analysts pointed out that the rise in the unemployment rate was due to an increase in labor supply, easing the tightness in the labor market, which boosted market expectations for a Federal Reserve rate cut, causing a slight retreat in U.S. Treasury yields and the dollar. However, analysts emphasized that this data is not yet strong enough to constitute a clear signal for the Federal Reserve to cut rates, and it is expected that the Federal Reserve will remain on hold in December, with the current market pricing the probability of a rate cut at about 32%.