Monday January 21, 2019
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US Dollar Weakens Against Other Major Currencies

The dollar index, which measures the greenback against six major peers, decreased 0.13 per cent at 96.1871 in late trading

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US Dollar Image, pixabay

The US dollar weakened as the US Federal Reserve Chairman Jerome Powell’s dovish remarks on rate hikes coupled with strong jobs data alleviated traders’ demand for safe havens.

In late New York trading on Friday, the euro was up to $1.1398 from $1.1391 in the previous session, and the British pound rose to $1.2740 from $1.2629 in the previous session, Xinhua news agency reported.

The Australian dollar rose to $0.7116 from $0.7002.

The US dollar bought 108.52 Japanese yen, higher than 107.75 Japanese yen of the previous session. The US dollar fell to 0.9864 Swiss franc from 0.9885 Swiss franc, and it was down to 1.3394 Canadian dollars from 1.3480 Canadian dollars.

The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
US dollar weakens against major currencies, pixabay

Powell said the central bank would remain patient in hiking benchmark overnight lending rates. He stressed Fed’s future move will depend on “how the economy evolves”.

Meanwhile, the upbeat jobs data also helped ease fears that the US economy is at risk of slipping into a recession over the next two years.

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US total nonfarm payroll employment increased by 312,000 in December, exceeding market expectations, the the Department of Labor said on Friday.

The dollar index, which measures the greenback against six major peers, decreased 0.13 per cent at 96.1871 in late trading. (IANS)

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US Dollar Rose up Amid Economic Data

Meanwhile, the more stable four-week moving average was 220,750, a decrease of 1,000 from the previous week's unrevised average of 221,750

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US Dollar Image, pixabay

The US dollar rose slightly amid strong economic data.

In late New York trading on Thursday, the euro was down to $1.1390 from $1.1398 in the previous session, and the British pound rose to $1.2987 from $1.2870 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7200 from $0.7176.

The dollar index, which measures the greenback against six major peers, rose 0.01 per cent at 96.0658 in late trading.

The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
US dollar edges up amid economic data., Pixabay

The US dollar bought 109.26 Japanese yen, higher than 108.92 Japanese yen of the previous session. The US dollar increased to 0.9937 Swiss franc from 0.9906 Swiss franc, and it rose to 1.3266 Canadian dollars from 1.3249 Canadian dollars.

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In the week ending January 12, the advance figure for US initial jobless claims, a rough measure of layoffs, was 213,000, down 3,000 from the previous week’s unrevised level, the Department of Labor reported on Thursday. The reading was lower than market consensus.

Meanwhile, the more stable four-week moving average was 220,750, a decrease of 1,000 from the previous week’s unrevised average of 221,750. (IANS)