NEW YORK >> The dollar firmed today but was heading for a weekly fall as weakening economic data leads traders to price in the probability of more interest rate cuts this year, and as investors evaluate President Donald Trump’s nominations to the Federal Reserve.
The dollar has dropped since last week’s jobs report for July showed employers added fewer jobs than expected during the month, while job gains from previous months were also revised down sharply.
Other data, including a weakening housing market and services sector data, are also pointing to a slowing economy.
Trump on Thursday, meanwhile, said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant Fed seat, while the White House seeks a permanent addition to the