Dollar broadly higher against rivals, as Friday's report lends support

Dollar broadly higher against rivals, as Friday's report lends support

11 May 2015, 13:16
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On Monday the greenback was broadly higher against its peers, as the dollar was supported after Friday's U.S. employment data.

The U.S. dollar index, measuring the strength of the greenback against a trade-weighted basket of six major currencies, was rose 0.27% to 95.16.

On Friday the U.S. Labor Department reported that the U.S. economy added 223,000 jobs in April, just shy of economists forecast for 224,000. The unemployment rate ticked down from 5.5% to 5.4%, the lowest since May 2008.

March’s payrolls, however, were revised to show that only 85,000 jobs were created, the fewest since June 2012.

The single currency was lower, with EUR/USD down 0.33% to 1.1162.

Sentiment on the euro was fragile as Greece and the euro zone were to hold a fresh round of talks later Monday, but breakthrough is hardly expected.

Ahead of the talks Greece’s government indicated that it was still hopeful that progress would be made but euro zone representatives have indicated that too many issues are still not solved.

Tuesday is a deadline for Greece to repay approximately €770 to the International Monetary Fund.

The pound was steady, with GBP/USD at 1.5457.

Later in the day, the Bank of England is to make an announcement, in which it is expected to leave its banchmark interest rate unchanged at 0.50% and its asset purchase facility program at £375 billion.

On Friday the pound had surged to more than two-month highs against the dollar after Prime Minister David Cameron’s Conservative Party won a surprise majority in British elections.

The dollar was higher against the yen with USD/JPY up 0.08% to 119.86 and also higher versus the Swiss franc, and with USD/CHF adding 0.18% to 0.9314.

The Australian and New Zealand dollars were weaker, with AUD/NZD down 0.42% to 0.7897 and NZD/USD tumbling 1.49% to 0.7383. Earlier on Monday, the National Australia Bank reported that its business confidence index remained unchanged at 3 last month.

USD/CAD climbed 0.52% to trade at 1.2134.

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