Money Exchange News of the Day
US Dollar Friday fell to 7-month low after the jobs data, data showed last month’s job growth than expected, markets worry about or will affect the pace the Federal Reserve will raise interest rates later this year.
US Dollar falling to 7-month low point against the euro and the Swiss franc and yen since falling 1-week high against the US dollar.
Data shows that as the manufacturing activity, US Government and retail trade employment, non-farm jobs last month, rising only 138,000, market consensus forecasts will increase by 185,000 jobs. Number of US jobs in May, is substantially lower than the monthly average over the past 12 months 181,000. However, the unemployment rate has dropped to a 16-year low of 4.3%. Although employment figures worse than expected, analysts said, this will not prevent the Federal Reserve will raise interest rates this month.
Now it is widely expected that the Fed will fall on June 14 slightly to 87%, ahead of the jobs report is 89%.
In early trading in New York Friday, the US dollar fell to 7-month low, closing down 0.4% to 96.715. EUR-USD intraday on Friday rose to 7-month highs 1.1282, then slipped a rise against the dollar to 0.5% from 1.1265. USD-JPY fell 0.5% to 110.74.
For more foreign exchange related news, stay tuned to Value Currency Exchange – best currency exchange in Brisbane.
Read up on more Forex NEWS –
Visit our Facebook Fanpage for more useful information on Forex News