Dollar Drops as Market Awaits U.S. Jobs Data Revision

The dollar is struggling, hovering near a seven-week low, as investors eye upcoming U.S. jobs data revisions that could indicate a labor market weaker than initially reported. A downbeat revision may strengthen the argument for deeper interest rate cuts from the Federal Reserve.

Currently, the dollar slipped 0.2% against the yen and saw minor dips against other currencies such as the euro and sterling. Economists forecast a significant downward revision, perhaps as large as 800,000 jobs, which may suggest the Fed is trailing in its efforts to maximize employment.

A report critical of the Bureau of Labor Statistics is also in the works, potentially adding pressure. Meanwhile, the anticipation of policy easing is contributing to record gold prices, with political developments in countries like Japan and Indonesia adding further complexity to the global economic landscape.

(With inputs from agencies.)