A Labor Department report showed U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued
Financial markets boosted the odds of a September rate cut and saw the U.S. central bank reducing borrowing costs twice this year instead of only once before the data
The median forecast in a Bloomberg survey of economists also calls for a 3.9% increase in average hourly earnings from a year earlier, the smallest annual gain since mid-2021
The dollar rose to a 2-1/2-month peak on Wednesday, posting its biggest monthly rise since November 2016, supported by a surprisingly hawkish shift in the US Federal Reserve's rate outlook