The dollar is slightly lower against a basket of currencies this morning, after strengthening towards the end of last week.
Non-farm payrolls data gave the dollar a boost on Friday. This revealed that the US economy added 390,000 jobs in May, the least since April last year but above market forecasts of 325,000. This means that the economy is 822,000 jobs or 0.5% below its pre-pandemic level, indicating that the labour market is getting close to full employment.
The markets will now focus on US inflation data, which is due to be released on Friday. Predictions state that it will come in at 5.9% in May, a fall from 6.2% in April.
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