Dollar hovers near one-month low on weak U.S. jobs report

06.09.2021 - Petr Mazaylo
Dollar hovers near one-month low on weak U.S. jobs report

The dollar performed well during the start of the trading week in Asia. However, it lingered close to a one-month low following investors’ stalled expectations on the United States’ Federal Reserve’s asset tapering timeline.

The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.14% higher to 92.165 by 10:51 PM ET (2:51 AM GMT).

The USD/JPY pair jumped 0.09% to 109.82.

The AUD/USD pair declined 0.29% to 0.7437, and the NZD/USD pair slid 0.25% to 0.7142.

The USD/CNY pair climbed 0.02% to 6.4541, while the GBP/USD pair shed 0.06% to 1.3856.

The new U.S. jobs report showed unfavorable figures last Friday, with non-farm payrolls touching their weakest gains in seven months at  only 235,000. Meanwhile, the unemployment rate was 5.2%. Given the figures, the dollar dropped to its lowest level since August 4 on Friday at 91.941.

A recovery in the labor market was the Fed’s condition in starting its asset tapering. The Commonwealth Bank of Australia (CBA) analysts now expect it to begin this December.

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