• DXY drifts lower for the third successive day and drops to over a one-week low on Friday.
• Bets for a larger Fed rate cut keep the US bond yields depressed and exert some pressure.
• Investors now look forward to the key US NFP report before placing fresh directional bets.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, prolongs this week's downfall from the vicinity of the 102.00 mark and continues losing ground for the third successive day on Friday. The downward trajectory drags the index below the 101.00 round figure, or over a one-week low during the first half of the European session as traders now look to the crucial US employment details for a fresh impetus.

The popularly known Nonfarm Payrolls (NFP) report will play a key role in influencing market expectations about the Federal Reserve's (Fed) policy path and determining the next leg of a directional move for the DXY. In the meantime, bets for a larger interest rate cut later this month, bolstered by a mixed bag of US employment data released this week, which provided evidence of a deteriorating labor market. In fact, a report on Wednesday showed that US job openings dropped to a three-and-a-half-year low of 7.673 million in July.