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The greenback recovers slightly to start the new week
The US jobs report on Friday didn’t do the dollar much good as it was the weakest performer at the end of last week, trailing behind the major currencies bloc.
To be fair, there wasn’t much to digest in the report with the headline figure holding up but there was a slight uptick in the unemployment rate – which was disappointing.
Meanwhile, wages growth also weren’t suggestive of anything significant as conditions are still somewhat impacted by the pandemic in general.
Yet, the dollar softened and I would argue that owes more to market expectations now anticipating every key data release to tilt towards supporting a more hawkish Fed.
For now though, the dollar is keeping steadier with ranges still relatively narrow but they are expanding a touch going into European trading. That said, EUR/USD still rests in a 17 pips range with USD/JPY in a 24 pips range so far on the day.
This article was originally published by Forexlive.com. Read the original article here.