After performing poorly for five straight days, better-than-expected Non-Farm Payrolls boosted the dollar on Friday afternoon. It was up against both the pound and the euro as data showed the US economy created 266,000 Non-Farm Payroll jobs last month, beating expectations of 180,000. However, it has fallen to a weaker position this morning.
This positive jobs report supports the Federal Reserve’s latest decision to keep interest rates on hold, after cutting them three times this year.
The greenback had a poor week overall, however, as a series of disappointing data kept it down. This week we’ll see more data releases including inflation rate figures and retail sales. The Federal Reserve will also announce their latest decision on interest rates this Wednesday.
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