The US dollar weakened today as the signs of the economic recovery, including the improving US jobs market, increased the risk appetite and diminished the demand for the currencies, considered to be the safe haven.
The US nonfarm payrolls showed the decline by 54,000 job places in August, compared to the significantly more pessimistic forecast of the 101,000 decrease. The unemployment rate remained almost unchanged and stays at 9.6 percent. The Standard & Poorâs 500 Index advanced 0.9 percent today, the fourth consecutive day of gains.
It seems that we’ve seen another day of the risk appetite surge today, which is driving dollar down. And not only the dollar but other safe currencies too, as the yen showed declining against other majors, including the greenback.
EUR/USD advanced today from 1.2823 to 1.2883 as of 16:05 GMT, while GBP/USD rose from 1.5398 to 1.5440. USD/JPY traded near 84.46 after it opened at 84.24 and jumped to the daily high of 85.21, the highest level in last four days.
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