U.S. Dollar Weakens Amid Speculation on Federal Reserve Leadership

According to Odaily, the U.S. dollar remains weak after hitting a five-week low in the previous trading session. This decline is attributed to recent U.S. economic data and speculation regarding the next Federal Reserve chair, which have heightened expectations for a rate cut ahead of next week's decision. On Wednesday, the ADP private sector employment report fell short of expectations, while ISM services data indicated easing price pressures. These developments followed U.S. President Donald Trump's suggestion that he might nominate Hassett as the next Federal Reserve chair. LSEG data shows an 85% probability of a rate cut by the Federal Reserve in December.