The latest jobs data is in for the United States, and the good news is helping the dollar index. However, even though the greenback is finding a little bit of support, it is still rangebound in trading.
The Labor Department released its jobs data for February, reporting that 175,000 jobs were added to the US economy during that month. Even though the greenback is largely rangebound right now, it is moving a bit higher on the good news, which represents the biggest increase in jobs added to the economy in the past three months.
However, there is still a bit of uncertainty surrounding the economy and the jobs situation, since the unusually harsh winter might have affected matters. As a result, a “good read” on the economy won’t be available for another couple of months.
In the meantime, it appears that the US economy is still moving forward. There is speculation that the Federal Reserve will continue its tapering program, and that is helping the greenback gain a bit of an edge.
At 14:02 GMT the US dollar index is up to 79.7560 from the open at 79.6550. EUR/USD is is down to 1.3856 from the open at 1.3857. GBP/USD is down to 1.6733 from the open at 1.6737. USD/JPY is up to 103.6900 from the open at 103.0500.
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