Mitsubishi UFJ: The September non-farm report must be very weak to weaken the US dollar.

Mitsubishi UFJ foreign exchange analyst Lee Hardman said that after the US Bureau of Labor Statistics announced the cancellation of the October non-farm payroll report, investors' confidence in the Fed cutting interest rates in December gradually weakened. At the same time, the Bureau of Labor Statistics also postponed the release of the November non-farm payroll report to December 16, which means that when the Fed makes its decision in December, they will only have today's September non-farm payroll report. The uncertain health of the labor market in October and November may lead the Fed to adopt a more cautious strategy and pause rate cuts in December. Therefore, the September non-farm payroll report released today must be far below expectations in order to encourage market participants to increase their bets on a December rate cut by the Fed, thereby weakening the dollar.