The dollar index was little changed around 98.2 on Thursday, hovering near two-week lows after declining for four consecutive sessions. Traders remain focused on the evolving US economic outlook, the implementation of new tariffs, and the upcoming Federal Reserve board appointments. Economic data added to the uncertainty: both initial and continuing jobless claims came in above expectations, following last week’s weaker-than-expected nonfarm payrolls report, which deepened concerns over a cooling labor market. Additionally, productivity and labor costs rose more than anticipated. On the trade front, sweeping tariffs on nearly all major US trading partners took effect today. Meanwhile, market expectations for a Fed rate cut in September remain elevated, with futures pricing in a roughly 91% probability. Looking ahead, President Trump said he will nominate a replacement for outgoing Fed Governor Adriana Kugler by the end of the week.