1508 ET – The dollar loses momentum ahead of an expected decline in U.S. job creation, as investors expect the Fed to start cutting interest rates in coming months. President Trump’s announcement of a trade deal with Vietnam seems to contribute to dollar indexes falling from morning highs. Consensus for tomorrow’s payrolls puts June’s job creation at 110,000, down from May’s 139,000. Some forecasters, however, expect much less. ADP says private-sector employers actually shed 33,000 jobs last month. The WSJ Dollar Index rises 0.1%, but is off earlier highs. The greenback strengthens around 0.1% versus the yen and the euro. (paulo.trevisani@wsj.com; @ptrevisani)

Sterling Falls on Concerns Over Treasury Chief’s Future

1224 GMT – Sterling falls to an 11-week low against the euro and a one-week low versus the dollar after U.K. Prime Minister Keir Starmer failed to ensure the future of Rachel Reeves as Treasury chief. During the Prime Minister’s Questions in parliament Wednesday, Starmer declined to say Reeves would remain in her post until the end of parliament. It follows a rebellion within the ruling Labour Party over welfare reforms that prompted the government to make concessions in order to get the plans passed in a parliamentary vote Tuesday. The euro rises to a high of 0.8632 pounds and sterling falls to a low of $1.3632, LSEG data show. (renae.dyer@wsj.com)