The US dollar continued its weak movement pattern heading into the final sessions at the end of this week ahead of the US (US) NFP employment data report.
Adding to the initial pressure, US job growth in May is expected to decline compared to the previous month, while the unemployment rate figure will be watched.
Previously, US economic data involving the ADP report and the ISM survey for the services sector came in with gloomy readings, preventing the US dollar's previous recovery.
The Euro strengthened significantly yesterday in reaction to the results of the latest monetary policy meeting by the European Central Bank (ECB).
In line with market expectations, the ECB cut interest rates by 25 basis points from 2.40% previously to 2.15%, becoming the 8th cut in 1 year.
However, the Euro value surged as the central bank indicated that the policy easing cycle is about to end following economic shocks involving the war in Ukraine and the energy crisis.
The euro surged to a fresh 6-week high against the US dollar, nearing $1.1500 yesterday before retreating slightly.
Investors' attention is still focused on the development of the US-China trade war after a phone call between President Donald Trump and Xi Jinping.
According to Trump, the conversation, which lasted more than 1 hour, yielded positive results for both countries.
President Xi has invited Trump to China for further talks, which he said will focus only on trade issues.
