USD sank to the one-month low as DXY Index trades near 92.2; Japan’s economy likely grew more than expected

USD sank to its lowest point in almost a month today, with the DXY Index trading near 92.2, sharply lower compared with even a week ago. Later in the day investors will have the latest non-farm payrolls from the Fed, which is often used as a signal to predict monetary policy. The current consensus is that 750k jobs will be added and the unemployment rate will fell to 5.2% from 5.4%.

Among USD’s major counterparts, EUR was mostly flat at around 1.1877. The next policy meeting from the European Central Bank will be held on September 9th. AUD and NZD were both on the rise due to the rising risk appetite.

In Japan, the economy in Q2 likely grew more than initially reported. The potential revision is based on the rising household spending in July. The new growth rate will likely land at 1.6% on a yearly basis, more than the previously reported 1.3%.