Forex – Dollar Set to Snap Two-Week Winning Streak on Softer U.S. Wage Growth



Investing.com – The U.S. dollar looked set to snap a two-week winning streak Friday as jobs data showing softer wage growth supported expectations that the Federal Reserve is likely to remain on pause.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.34% to 97.25.

The rose by 263,000 compared to expectations for a 181,000 gain, according to estimates from Investing.com.

The fell 2 basis points to 3.6%, but , an important number to gauge inflation, rose 0.2% below expectations for a 0.3% rise.

The mixed jobs report does little to divert the Fed’s current course of noa ction, analysts argued.

“The data don’t give the Fed reason to start tightening again soon, but they certainly don’t support the case for easing either. Fed officials will likely want to see employment growth slow a lot more to stop the downtrend in unemployment,” Hedge Fund Economics said in a note.

rise 1.01% to 1.317 as the main opposition partied signaled it was ready to make a Brexit deal with the government after local election results showed voters were turning their banks on the country’s main parties amid frustrations over Brexit deadlock.

Labour leader Jeremy Corbyn and Prime Minister Theresa May have been in talks for several weeks, but recent media reports had suggested both parties were still far from reaching a consensus.

rose 0.16% to $1.1194, but gains were capped by ongoing uncertainty over whether the trading bloc will mount an economic recovery in the second half of the year.

fell 0.33% to C$1.3430 as the loonie was boosted by a rise in oil prices.

fell 0.31% to Y111.16 as a decline in U.S. government bond yields weighed on the dollar, propping up the safe-haven yen.

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