Euro holds firm as dollar slips on Fed cut betsEuro/US DollarSAXO:EURUSDProfessorSingaporeEuro holds firm as dollar slips on Fed cut bets The euro traded near $1.167, steady despite U.S. dollar weakness fueled by soft labor data. Private payrolls rose 54,000 in August versus 65,000 expected, job openings fell to 7.18 million, the lowest since September 2024, and jobless claims hit a two-month high—signaling a cooling labor market. Markets now expect a 0.25% Fed rate cut in September, which could further weigh on the dollar and support EUR/USD. Traders should monitor upcoming U.S. data for additional easing signals. In France, a confidence vote on Prime Minister François Bayrou’s budget plan is unlikely to impact the euro significantly, ING says. Even if Bayrou loses, President Macron is expected to appoint a new centrist or center-right PM with a softer fiscal plan. While political uncertainty remains, it’s largely priced in.