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U.S. dollar begins the week recording the highest level in three years.

The U.S. dollar recorded on Monday – in the first week's sessions the highest level in three years, continuing a climb for a third day in a row against all major currencies in light of the increasing speculation that the U.S. Federal Reserve is approaching to cut the monetary stimulus during the month of September following the statement of jobs for the month of June and which came much better than it was expected which gave a healthy economic outlook.

The jobs report showed the success of the U.S. economy to add 195 thousand jobs during the month of June better than expectations, which indicated to 163 thousand jobs, while the amendment number and functions of the month of May added 70 thousand jobs to become 195 jobs.

The unemployment rate remained at the level of 7.6 percent without modification. In contrast, the European single currency stabilized near its lowest level in two months. The British Pound continued to decline against the U.S. dollar to its lowest level in four months. The Japanese Yen rose in early trading in Asian stocks remained low and fears towards shortage of liquidity in China.

Monday, 08 Jul, 2013 / 7:01

Source : https://www.firstbinaryoption.com

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