The US dollar climbed against the euro and the Great Britain pound today due to the release of yet another positive employment report from the United States. The greenback was down versus the Japanese yen.
The number of job openings increased from 4.17 million in March to 4.46 in April and was high above the predicted figure of 4.04 million. While this report is considered to be lagging compared to other employment reports (as it looks at the month before the last one, not the last one itself as non-farm payrolls do), it remains an important piece of data, closely watched by the Federal Reserve. Today’s employment report followed Friday’s NFP, which were also good.
The continuous stream of good data from the USA suggests that the Fed will press on with its stimulus reduction and may start raising interest rates in the near future. Such outlook is very favorable for the US currency, meaning that it should be strong in the near term.
EUR/USD was down from 1.3594 to 1.3540 and GBP/USD dropped from 1.6803 to 1.6752 as of 23:53 GMT today. At the same time, USD/JPY declined from 102.52 to 102.31.
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