The dollar index is seen reducing gains following a spike in the following session after a stronger-than-expected June jobs report. US nonfarm payrolls rose by 147,000 in June, above forecasts of 110,000. The US unemployment rate edged down to 4.1% in June contrary to expectations of an uptick to 4.3%.Initial jobless claims in the US eased by 4,000 from last week to 233,000 for the week ending June 28. Meanwhile, easing geo-political tensions in the Middle East is limiting upside appeal for the safe haven currency. The greenback also faces challenges amid prevailing uncertainty on US President Donald Trump's plans for tariffs on various countries. President Trump reportedly said on Thursday that he will begin sending letters on trade tariffs starting Friday to 10 countries at a time, outlining proposed tariff rates ranging from 20% to 30%.The dollar index that measures the greenback against a basket of currencies is quoting at 96.53, down 0.31% on the day.
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