Dollar falls, U.S. job report eases interest rate hike concerns

05.07.2021 - Korneychuk Evgeniya
Dollar falls, U.S. job report eases interest rate hike concerns

The dollar fell on Monday morning as the latest U.S. employment report soothed worries on earlier-than-expected hike in U.S. interest rates.

The U.S. Dollar Index, which measures the greenback against a basket of other counterparts, dropped 0.10% to 92.325.

The USD/JPY pair notched up 0.09% to 111.15, with Japan’s services PMI for June at a higher-than-expected 48.

The AUD/USD pair was down 0.11% to 0.7517. Australia’s PMI was at 56.8, slightly higher than expected, while retail sales rose 0.4% month-on-month in May.

The NZD/USD pair fell 0.11% to 0.7018.

The USD/CNY pair dropped 0.15% to 6.4626. The Caixin services purchasing managers index (PMI) dropped at 50.3, lower than last month’s figure of 55.1.

The GBP/USD pair remained at 1.3821.

Non-farm payrolls rose by higher-than-expected 850,000 in June.

Meanwhile, the unemployment rate was also higher than forecast at 5.9% causing doubts that the U.S. Federal Reserve would raise interest rates sooner than expected.

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