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Dollar surged supported by powerful employment data in the US

06 Jan,2023
Dollar surged supported by powerful employment data in the US

The greenback ticked up on Friday, hovering around the highest level in one month post the released data that manifested a solid employment figures before the anticipated NFP report.

The dollar index that guages the US dollar versus its major pairs nudged up by 0.2% at 105.075, close to its highest level for the month at 105.27. The index was gearing towards hitting earnings for the week above 1.6%.

The job claims for the previous week slumped, touching the lowest level in three months and the ADP report manifested an edge up of jobs for the earlier month by 235,000.

EUR/USD dipped 0.1% to 1.0517, euro has been showing consecutive slips, although the German retail sales for November advanced by 1.1% from the earlier month.

GBP/USD plunged by 0.1% at 1.1898, post hitting its lowest level in one month and half, the pound has been abandoned by traders assuming that the slow economy will hinder BOE from taking an aggressive stance.

USD/JPY jumped 0.6% at 134.20, where the Japanese yen slipped repeatedly post touching this week its highest level in seven months amid claims that BOJ will alter its eased policy soon.

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