US Dollar stands weak ahead of October’s NFP

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• DXY index declined to 106.15, down by 0.50% on the day.
• US government bond yields are declining, while Wall St indexes are rising.
• Focus is set on Friday’s Nonfarm Payrolls report for October.

The US Dollar (USD) tumbled on Thursday, and the DXY index declined to 106.15, driven by dovish bets on the Federal Reserve (Fed) and falling US bond yields following Wednesday’s decision and Chair Powell’s tone.  All eyes are now on the Nonfarm Payrolls (NFP) report from October on Friday, which could set the tone of the USD in the short term and extend its losses.