Dollar increase; Euro, Pound dropped to low for weeks
The dollar grew higher than a basket of other major coins on Monday after the United States ' latest employment report reinforces the expectations of the Federal Reserve to keep up with the rate of interest rates this year.
The US dollar index measures the strength of the USD versus the six major currency baskets, up 0.11% to 95.13 at 04:22 AM ET (08:22 GMT), near touching the highs for over a year as 95.44 achieved Jul. 19.
U.S. employment growth is slower than expected in the 7th month, the Department of Labor has reported Friday, but the labor market conditions continue to tighten up, supporting the expectation of increased interest rate added 2 times the Fed's this year.
The US central bank kept the interest rate steady in the last week, but said the US economy came back strong, suggesting that the agency is on the right track and expected to raise interest rates in September and December.
The Euro hits the lowest level in four and a half weeks compared to the dollar, with the EUR/USD rate dropped to 1.1550.
The common currency has been under lower pressure due to the different monetary policy prospects between the Fed and the European Central Bank, which is committed to keeping interest throughout the summer of 2019.
This joint coin was also affected after the data showed German factory orders fell by 4% in 6 months, the largest reduction in nearly 18 months due to the weaker demand for overseas.
Unexpected poor data is added to the concerns about the economic impact of increased trade tensions.
The pound slides to the lowest level in two weeks against the dollar, the GBP/USD rate fell 0.29% to 1.2963.
The pound remained at a low level after the British bank governor Mark Carney warned that there was the risk of "non-satisfaction" of Britain when leaving the European Union without agreement.
The dollar was less altered compared to the yen, the last USD/JPY rate at 111.27.
Meanwhile, China's Chinese yuan slider is lower than the dollar, but is kept above the bottom level for 15 months on Friday. This coin is often tightly controlled by Beijing, at a reference level of 6.8577 in offshore transactions.
The dollar was recovered in comparison with a dollar on Friday after the Chinese authorities effectively increased the price of this coin, which had been heavily influenced by the escalation trade between the United States and China.
The US dollar index measures the strength of the USD versus the six major currency baskets, up 0.11% to 95.13 at 04:22 AM ET (08:22 GMT), near touching the highs for over a year as 95.44 achieved Jul. 19.
U.S. employment growth is slower than expected in the 7th month, the Department of Labor has reported Friday, but the labor market conditions continue to tighten up, supporting the expectation of increased interest rate added 2 times the Fed's this year.
The US central bank kept the interest rate steady in the last week, but said the US economy came back strong, suggesting that the agency is on the right track and expected to raise interest rates in September and December.
The Euro hits the lowest level in four and a half weeks compared to the dollar, with the EUR/USD rate dropped to 1.1550.
The common currency has been under lower pressure due to the different monetary policy prospects between the Fed and the European Central Bank, which is committed to keeping interest throughout the summer of 2019.
This joint coin was also affected after the data showed German factory orders fell by 4% in 6 months, the largest reduction in nearly 18 months due to the weaker demand for overseas.
Unexpected poor data is added to the concerns about the economic impact of increased trade tensions.
The pound slides to the lowest level in two weeks against the dollar, the GBP/USD rate fell 0.29% to 1.2963.
The pound remained at a low level after the British bank governor Mark Carney warned that there was the risk of "non-satisfaction" of Britain when leaving the European Union without agreement.
The dollar was less altered compared to the yen, the last USD/JPY rate at 111.27.
Meanwhile, China's Chinese yuan slider is lower than the dollar, but is kept above the bottom level for 15 months on Friday. This coin is often tightly controlled by Beijing, at a reference level of 6.8577 in offshore transactions.
The dollar was recovered in comparison with a dollar on Friday after the Chinese authorities effectively increased the price of this coin, which had been heavily influenced by the escalation trade between the United States and China.
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