U.S. Dollar Falls Against Majors
09 Julio 2018 - 2:04AM
RTTF2
The U.S. dollar slipped against its major opponents in the
European session on Monday, as Friday's U.S. payrolls report showed
slower-than-expected wage growth in June, reducing expectations for
a fourth rate hike this year.
Although U.S. job growth increased more than expected in June,
wage growth slowed, helping reduce the probability of another Fed
rate hike for September.
The data showed U.S. wage growth rose 0.2 percent on month?in
June, down from forecasts for 0.3 percent.
Investors digested ongoing U.S-China trade tensions, with both
countries imposing tariffs on goods worth $3.4 billion on each
other.
With today's economic calender being light, investors await U.S.
producer prices, consumer prices and consumer sentiment due this
week for more direction.
The currency has been trading in a negative territory against
its major rivals in the Asian session.
The greenback fell to near a 2-week low of 0.9858 against the
franc, from a high of 0.9903 hit at 6:00 pm ET. The greenback is
likely to find support around the 0.97 level.
Data from the State Secretariat for Economic Affairs showed that
Switzerland's unemployment rate declined marginally in June. The
jobless rate dropped to a seasonally adjusted 2.6 percent in June
from 2.7 percent in May. The rate was forecast to drop to 2.5
percent.
The greenback dropped to near 4-week lows of 1.1781 against the
euro and 1.3363 against the pound, reversing from its early highs
of 1.1740 and 1.3285,respectively. If the greenback falls further,
it may find support around 1.19 against the euro and 1.35 against
the pound.
The greenback weakened to near a 2-week low of 0.6850 against
the kiwi and near a 4-week low of 1.3069 against the loonie and
held steady thereafter. At last week's close, the greenback was
worth 0.6838 against the kiwi and 1.3089 against the loonie.
The greenback slipped to 0.7481 against the aussie, its weakest
since June 15. On the downside, 0.76 is possibly seen as the next
support level for the greenback.
On the flip side, the greenback recovered from its early 4-day
low of 110.35 against the yen and held steady thereafter. The pair
closed Friday's trading at 110.45.
Survey figures from the Cabinet Office showed that a measure of
peoples' assessment of the Japanese economy improved in June, in
line with expectations.
The current index of Economy Watchers' survey rose to 48.1 in
June from 47.1 in May.
Looking ahead, at 9:00 am ET, the European Central Bank
President Mario Draghi testifies about the economy, monetary
policy, and virtual currencies before the European Parliament
Economic and Monetary Affairs Committee, in Brussels.
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