The US dollar yet again attempted to rally and yet again it failed. Even another better-than-expected employment report was not able to boost the currency, which erased its earlier gains versus the euro and the Great Britain pound and fell versus the Japanese yen today.
The Bureau of Labor Statistics reported today that the number of job openings rose by 4.64 million in May. The figure was above the predicted reading of 4.53 million and the April value of 4.46 million. While this report is considered to be a lagging indicator, it is still important as the Federal Reserve takes the data into account for considerations regarding future monetary policy.
The positive news did not benefit the dollar, which behaved in the same manner as at the previous trading session — rallied intraday but pared gains later. The greenback, which is considered to be a safe currency, may profit from volatility that should increase as speculators return to trading after the Fourth of July holiday. Yet for now the US currency is on the back foot.
EUR/USD traded at 1.3610 as of 19:39 GMT today following the drop from 1.3607 to 1.3588. GBP/USD was at about 1.7130 after falling from 1.7126 to 1.7085. USD/JPY declined from 101.86 to 101.54.
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