Dollar Firms Ahead of Non-Farm Payrolls

The US dollar firmed a bit today as positive unemployment data returned optimism to dollar bulls ahead of tomorrow non-farm payrolls. Earlier, the currency had been subdued due to concerns about the US economy and hopes for positive resolution of the Greek crisis.
The US Department of Labor reported that initial jobless claims fell 284,000 to 276,000 last week. The report followed yesterday’s data from Automatic Data Processing that showed growth of US employment by solid 201,000 in May. All the positive news made traders hopeful about tomorrow’s non-farm payrolls. Analysts predict that the indicator will show growth by 226,000.
The dollar has been under pressure lately due to worrying economic data from the United States that hinted at problems in the US economy. But with the recent positive employment reports and concerns about the situation in Greece the greenback may yet return its strength.
EUR/USD dipped from 1.1272 to 1.1220 as of 22:18 GMT today after reaching the daily high of 1.1379. GBP/USD ticked up from 1.5339 to 1.5353 but retreated from the session maximum of 1.5441. USD/JPY edged higher from 124.22 to 124.44 following the drop to 123.78.

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