The dollar has continued to strengthen against the euro following last week’s post-unemployment rate climb. Against sterling, the dollar has also continued to climb and is stronger than it was this time last week.
Job prospects are finally on the rise as US unemployment is the lowest it has been in over 2 years. The data released on Friday revealed that the country’s unemployment rate has gently declined from 3.6%, to a softer 3.5%. The rate is also the lowest it has been since February 2020, after enduring a 4-month spell at 3.6%.
Friday’s Non-farm payroll data revealed more optimism for workers, as the number of jobs openings were more than double what markets expected. 250,000 jobs were predicted, however a total of 5280,000 were added to the economy causing the dollar to strengthen.
Close eyes will be on the US markets this week as inflation rates will be announced.
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