US Dollar Index Struggles Below 97.00 Despite Robust Employment Data

The US Dollar Index (DXY) continues to trade on a softer note, hovering near the 96.80 level as it maintains its downward momentum. Surprisingly, the greenback failed to rally despite the recent release of a stronger-than-expected Non-Farm Payrolls (NFP) report. This muted reaction to positive data suggests underlying bearish sentiment or a period of consolidation among currency traders. Market participants are now shifting their focus to the upcoming US weekly Initial Jobless Claims data for further direction. The 97.00 mark remains a significant psychological resistance level that the index has struggled to breach. Until new economic catalysts emerge, the dollar is expected to remain under pressure in the short term.