The US dollar continued to gain on Monday, even after the not-so-encouraging US jobs data on Friday. Perhaps the report was not enough to prompt investors scale back their expectations with regards to the Fed’s future plans. Oil-bulls locked some profits yesterday, after US President Trump decided to announce today whether he will withdraw the US from the Iran nuclear deal.
USD Continues to Strengthen; Hits Fresh 2018 High
The US dollar continued to strengthen against the most of the other G10 currencies on Monday, with the Dollar index hitting a fresh 2018 high. The only currencies that managed to resist the greenback’s strength and ended the day virtually unchanged were GBP and JPY. The main losers were SEK, NOK and CAD in that order.
On Friday, the US employment report showed that non-farm payrolls rose 164k in April, less than the anticipated 189k, but more than the upwardly revised 135k for March. Average hourly earnings decelerated to...
Read the full financial markets daily report on JFD Research.