The dollar drops to its lowest price in more than two months

  • 7-05-2021, 20:13
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    Follow-up - INA

    The dollar fell to its lowest level in more than two months after the US jobs data for April fell below expectations.

    The US Labor Department said today in its report that jobs in the non-agricultural sectors increased only 266 thousand jobs last month after it increased by 770 thousand in March, while economists had expected an increase in jobs to about 978 thousand. ”

    Against a basket of major currencies, the dollar index reached 90,561 , Down 0.34 percent, after falling to 90.338, the lowest since February 26, after the release of that data. "
    The euro rose 0.44 percent to $ 1.21140. The pound rose 0.3 percent to $ 1.3933. "
    A more than expected acceleration of Chinese exports in April and import growth to the highest level in ten years pushed the Yuan and Asian stock markets higher."
    The Yuan rose to its highest level in more than two months against the dollar and is heading to record the longest period of weekly gains since September, driven by strong trade data and the dollar’s weakness.
    The Australian dollar rose 0.19 percent, recording $ 0.77995, recouping its losses earlier in the session. "

    Source: Reuters