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.