The US dollar has fallen and has continued to decline since last

OANDA:GBPUSD   ปอนด์อังกฤษ / ดอลลาร์สหรัฐ
The dollar fell slightly in early European trading on Monday, extending last week's losses to a six-week low after the Federal Reserve became less hawkish.
At 03:20 ET (8:20 p.m. Japan time), the dollar index, which tracks the U.S. dollar against a basket of six other currencies, fell more than 1% last week, the biggest decline since the middle of last year. It fell 0.1% to 104.782. .
The dollar has fallen since last week's Federal Reserve policy meeting, when the central bank issued dovish signals about further interest rate hikes.
That trend was reinforced by Friday's official jobs report, which showed that U.S. nonfarm payrolls grew less than expected in October. This data suggests that the U.S. labor market is cooling. This was the main reason the Fed took a hawkish stance this year. Federal funds futures suggest there is about an 85% chance that the Fed will complete the rate hike cycle and an 80% chance that the rate hike cycle will begin in June.
At least nine Fed speakers are scheduled this week, including two appearances by Chairman Jerome Powell, with the second session on Thursday including a question-and-answer session.
EUR/USD rose 0.1% to 1.0743, pushing the euro up to levels last seen in September, driven by a weaker dollar rather than stronger regional economies. Which area?
German data factory orders rose 0.2% in September, stronger than the expected 1.0% decline, but still a significant decline from August's revised 1.9% increase.
Moreover, German housing construction suffered another wave of layoffs in October, according to a study published Monday by the Ifo Economic Research Institute. "The situation is getting worse as more projects fail due to rising interest rates and construction prices," said Klaus Wohlrabe, head of research at Ifo.
GBP/USD rose 0.1% to 1.2384, extending last week's strong gains ahead of the UK's fourth-quarter GDP figures due later this week.


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