According to Odaily Planet Daily, Societe Generale said in a report that upcoming U.S. economic data may confirm that the job market is steadily cooling and provide support for the Federal Reserve's interest rate cuts and a weaker dollar.
Societe Generale foreign exchange strategists said that if the trend is towards a gradual easing of the labor market, that would point to a rate cut, but not at the pace currently expected.
That could inject some volatility into foreign exchange markets, they said, though the bank still recommends selling the dollar on any rebound unless the job market stops easing completely.
