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Dollar fell after an unexpectedly strong non-farm payrolls report

Discussion in 'Forex Daily News & Outlook' started by prav, Jul 9, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
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    US Jobs report failed to change views that US interest rates will stay on hold this year while overseas rates rise. The US Government?s non-farm payrolls report, the most closely watched barometer of the health of the US labor market, showed 132k jobs were created in June, beating the consensus forecast of 120k. The Dollar rose for a fourth straight session against the Yen. But it fared worse against European currencies as the Jobs data merely confirmed a view that the Federal Reserve will keep interest rates on hold at 5.25% this year, in contrast to the Euro-zone and Britain, where further monetary tightening is in store. Analysts said ?interest rate trends for Europe and the UK still favor the Euro and to some extent the pound compared to the Dollar, considering the Fed?s steady-rate stance?.


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