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The U.S. dollar softened to its weakest level in a week after a sharp downside surprise in labor data, with October Challenger Job Cuts showing tens of thousands of layoffs and a year-on-year jump of 175.3 percent versus an expected negative 25.8 percent. The deterioration in jobs data boosts expectations that the Federal Reserve could lean more dovish, with markets pricing a 69.0 percent chance of a December rate cut. An extended U.S. government shutdown threatens service disruptions and official data flow, while Friday’s University of Michigan Consumer Sentiment at 10 AM is the next key release.
