The dollar reached its lowest level since February 2022 amid policy uncertainty

The US dollar has dropped to its lowest level since February 2022 amid growing uncertainty in US trade and fiscal policy. The current quote of the EUR/USD pair is 1.1810, GBP/USD – 1.3771, USD/JPY – 142.95.

The 90-day pause in action on reciprocal tariffs announced by President Trump expires on July 9, while a protracted vote on his initiatives, including bills on taxes and government spending, continues in the Senate.

Investors are taking a wait-and-see attitude before the publication of key statistics on the US labor market. A report on open vacancies and staff turnover (JOLTS) is expected today, and data on employment in the non-agricultural sector is expected on Thursday.

According to analysts, if the figures turn out to be significantly lower than forecasts, this will strengthen expectations of an interest rate cut by the Federal Reserve as early as July, which could lead to a further weakening of the dollar.