Dollar declines as weak U.S. jobs data weighs, boosts major currencies

MacroDigital Finance Impact 4
โดย Seeking Alpha·Read original
Summary · why it matters

The U.S. dollar declined across the board after the June jobs report showed softer employment growth, prompting markets to scale back bets on a Federal Reserve interest rate increase this month. The U.S. economy added just 57,000 nonfarm jobs in June, well below forecasts of 110,000, while the dollar index was last up 0.05% at $100.91 and remains up about 2.74% for the year to date. Over the past week, the index fell 0.36% as the weak jobs report reinforced expectations of a more dovish Federal Reserve, and improving risk sentiment amid progress in indirect U.S.-Iran talks further reduced demand for the safe-haven currency. Lower oil prices also eased inflation concerns, with improving energy flows through the Strait of Hormuz and prospects of higher OPEC+ output raising expectations of ample supply. Among major currencies, the British pound was last up 0.19%, supported by an upward revision in UK factory PMI data, while the Japanese yen was last down 0.44% as its reversal bore the hallmarks of official intervention after dropping to a four-decade low against the dollar in the last week.

Impact on stocks 0