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Dollar Falls on Concerns Over US Labor Market Slowdown

Doha: The US dollar weakened on Wednesday after US private-sector employment data raised concerns about the strength of the labor market, while investors anticipated the imminent end of the government shutdown, a move expected to release a wave of delayed economic data. The euro held steady at $1.1586, while the British pound moved away from its seven-month low, trading at $1.3149 in late transactions.

According to Qatar News Agency, the US dollar index, which measures the greenback's performance against a basket of major currencies, hovered near its lowest level in more than a week at 99.46. Meanwhile, the Australian and New Zealand dollars each inched up 0.02%, to $0.6529 and $0.5656, respectively.

The Japanese yen was steady at JPY 154.08 per dollar, after touching a nine-month low of JPY 154.495 in the previous session.