Dollar Index at 103.15: EURUSD and GBPUSD Weakest Amid Fed Policy Outlook

The U.S. dollar index stood at 103.15 as of 10:00 AM Thursday, February 12. EURUSD and GBPUSD were the weakest, trading at 1.1025 and 1.4930, respectively. The dollar strengthened against majors amid expectations of continued accommodative Fed policy through early 2026, with traders pricing in a potential 25-basis-point rate cut in March. The non-farm payroll report for January, released Wednesday, showed 235,000 new jobs, below the 245,000 median forecast, suggesting some softening in dollar momentum.