Greenback faces more challenges

Posted 06 April, 2018

US dollar has faced more challenges after Washington announced weak employment data.

According to the released reports, US job rate increase was below the anticipated level in March, which summoned doubts concerning the state of the country’s economy.
The March results showed that NFP added 103,000, which the experts forecast 193,000.

US Dollar Index dropped to 89.87.

Additional pressure on the greenback came from gathering clouds over the US-China trade war issue. Specifically, Donald Trump asked the officials to consider a further increase in tariffs against China worth $100 billion this time. At the same time, Beijing also announced counter-tariffs against the USA this week.

In the current environment, the US dollar-to-yen rate decreased to 107.12 for now. Euro and sterling have also strengthened vs the greenback reaching 1.2276 and 1.4062 respectively. The Australian dollar rebounded to 0.7696, while New Zealand currency weakened against its American counterpart to 0.7267. 

The USD-CAD pair was seen at 1.2736 today.

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10 April, 2018 15:05

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