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Dollar drops amid weaker jobs release

Dollar, amid a weaker jobs report release in the U.S., traded lower versus its major counterparts last Friday. The U.S. dollar index traded at 93.9, declining 1.74%, ending the week 1.54% lower.

The U.S. economy introduced 38,000 jobs in May, as per the Labour Department, thus recording the smaller rise since 2010. The rate of unemployment dropped from 5% to 4.7%.

Dollar looks attractive to yield-seeking investors

The dollar would likely become more attractive to investors amid the higher rates that seem to be positive to the U.S. currency.

The USD/JPY pair traded at 106.53, 2.15% lower, performing a 3.84% weekly loss. The EUR/USD traded at 1.1366 and rose 1.91% whereas the GBP/USD climbed to 1.4528, recording a 0.73% appreciation.

This week, the traders will be focusing on Janet Yellen's speech and the developments taking place in the U.K before the EU referendum.

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Monday, 06 Jun, 2016 / 10:34

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/dollar-drops-amid-weaker-jobs-release

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