CURRENCY OVERVIEW

 The Rupee opened slightly weaker on Friday after data showed the U.S. labour market remained resilient, fuelling a rally in the dollar and pushing up Treasury yields. U.S. data on Thursday showed non-farm payrolls rose more than forecast in June, while the unemployment rate unexpectedly dipped, highlighting ongoing labour market strength. Treasury yields climbed, lifting the dollar against major peers, while markets dialled back expectations of a Federal Reserve rate cut at this month’s meeting. The jobs data is a “rare piece of good news" for the U.S. dollar, Richard Potts, economist at FX advisory firm Bondford, said. Meanwhile, the Republican-controlled House of Representatives narrowly passed U.S. President Donald Trump's spending and tax cuts bill that is estimated to add $3.4 trillion to the nation's $36.2 trillion debt. The dollar held gains on Friday after President Donald Trump got his signature tax cut bill across the final hurdle and pressure mounted on countries to secure trade deals with the United States. The greenback rallied from multi-year lows against the euro and the British pound hit earlier in the week after stronger than expected U.S. job data pushed out the timing for potential rate cuts by the Federal Reserve. With the U.S. closed for Independence Day, attention turns to Trump's July 9 deadline when sweeping tariffs take effect on countries like Japan that have not yet secured trade agreements. The dollar index , which tracks the greenback against major peers, had its worst first half since 1973 as Trump's chaotic roll-out of sweeping tariffs stoked concerns about the U.S. economy and the safety of Treasuries. The gauge stood little changed at 97.056 after a 0.4% advance on Thursday. The euro edged up 0.1% to $1.1765 . Trump said the U.S. will start sending letters to countries on Friday specifying what tariff rates they will face, a shift from earlier pledges to ink individual deals. Market expectations that the Fed will leave rates unchanged at its July meeting are now at 94.8% probability, up from 76.2% on July 2, according to the CME's Fedwatch tool. The dollar slid 0.2% to 144.69 yen , trimming a 0.8% surge in the previous session. Sterling was little changed at $1.36495 . Oil prices were little changed on Friday as a solid job market bolstered the case for the U.S. Federal Reserve keeping interest rates on hold, with investors also awaiting clarity on President Donald Trump's plans for tariffs on various countries. Brent crude futures rose 1 cent, or 0.01%, to $68.81 a barrel by 0036 GMT, while U.S. West Texas Intermediate crude firmed 3 cents, or 0.04%, to $67.03.