US June Payrolls Rise but Miss Forecasts, Signaling a Cooling Labor Market
# US jobs report# Federal Reserve# rate cuts# dollar
Key Points
- June job growth continued but fell short of expectations
- Cooling labor signals strengthen rate-cut bets
- A softer dollar ripples into the yen and global equities
Analysis
US payrolls grew in June but missed forecasts, reinforcing rate-cut expectations. The softer dollar backdrop links this week's record Dow with the yen's battle around 161—the key macro variable of the week.