The dollar weakened yesterday and is soft this morning following a positive Non-Farm Payrolls report, which exceeded expectations. Data showed that the US economy added 4.8 million jobs in June, the most on record and beating expectations of 3 million. This caused the greenback to weaken as its safe-haven demand waned.This caused the greenback to weaken as its safe-haven demand waned.
It’s worth keeping in mind, however, that this report and other recent data doesn’t cover the recent re-closures of businesses in some states due to an increasing number of coronavirus infections.
The US reported a record number of cases on Wednesday. President Trump has reiterated his view that the virus will “disappear”.
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