The U.S. dollar index retreated from a 20-year high on Friday after data showed that U.S. nonfarm payrolls beat expectations in August, but the unemployment rate rose slightly and wage growth moderated. Sterling has continued to lose ground, losing nearly 2% this week.
In late New York trading, the ICE U.S. Dollar Index (DXY), which tracks the U.S. dollar against six major currencies, edged down 0.07 percent to 109.61, still up 0.7 percent for the week and closing in the red for three consecutive weeks. After the non-agricultural report was released on Friday, DXY fell further, then pulled up during the session and turned red for a while, and ended slightly in the black.
In terms of economic data, the United States announced that non-agricultural employment in August was 315,000. Although lower than the previous value, it was roughly in line with market expectations and achieved a record of employment growth for the 20th consecutive month. The unemployment rate unexpectedly rebounded to January. first increase since.
The dollar index once approached the 110 mark yesterday and jumped to a new 20-year high. Federal Reserve Chairman Jerome Powell’s speech at the annual meeting of global central banks last week, coupled with a number of Fed officials who expressed hawkish stances one after another, The dollar has been pushed higher in the past few days.
“Overall, what we’re seeing is that the market is still bracing for more aggressive tightening by the Fed,” said Edward Moya, a market analyst at Oanda. Fed funds futures did not change after Friday’s nonfarm payrolls report, according to Refinitiv data. Change, the market believes that the probability of the Fed raising interest rates by 3 yards at the end of this month is still 75%.
The euro edged up 0.07% to $0.9950 against the dollar, but remained below par.
The European Central Bank (ECB) will hold an interest rate meeting next week, raising the odds of a three-yard rate hike as inflation in the euro zone continues to pick up.
Sterling’s decline was unstoppable, falling 0.22% against the dollar to $1.1516, having lost 1.9% this week.
The new British Prime Minister and the leader of the Conservative Party will be announced next week. The most promising successor at present is Liz Truss, the Foreign Secretary. The months-long battle between the Prime Minister and the ruling party leader will come to an end. Drive the pound to strengthen.
The yen edged up 0.05% against the dollar to 140.15 yen. After the yen fell below the 140 mark, hitting a 24-year low, Japanese Finance Minister Shunichi Suzuki said that the foreign exchange market has been volatile recently, and the government will respond appropriately when necessary and cooperate closely with authorities in other countries.
AUD and NZD rebounded in unison, with AUD/USD up 0.38% to $0.6808 and NZD/USD up 0.56% to $0.6111.
As of Saturday (3rd) Taiwan time about 6:00 Price:
The dollar index was at 109.5928. -0.0680% The euro against the US dollar (EUR/USD) was quoted at 1 EUR = 0.9950 USD. +0.0503% GBP/USD (GBP/USD) was quoted at $1.1516. -0.1993% The Australian dollar against the US dollar (AUD/USD) exchange rate was quoted at 1 Australian dollar to 0.6808 yuan. +0.3686% The U.S. dollar against the Canadian dollar (USD/CAD) traded at 1.3124 Canadian dollars. -0.2357% The U.S. dollar was quoted at 140.15 yen against the Japanese yen (USD/JPY). -0.0428%