Dollar close to 3-month peak vs euro on swerving outlooks
June 3, 2014 8:35 am
The US dollar stayed within 0.1% of the sturdiest in three months against the euro as a gain in Treasury yields and jobs data due tomorrow was said to reflect an improving labor market amplified the greenback.
Demand for the single currency was restrained ahead of a report today projected to display euro-area inflation slowed down in May, heightening European Central Bank (ECB)’s case to enlarge easing on June 5.
“The dollar will be swayed by the employment data this week, along with moves in U.S. rates. The decline in Treasury yields we saw in May is starting to reverse, supporting the dollar,” said Etsuko Yamashita, Chief Economist at Sumitomo Mitsui Banking Corp.
The dollar was slightly changed at $1.3596 per euro as of 9:13 a.m. in Tokyo following it appreciated to $1.3586 on May 29, the strongest level since February 13. The US currency was at ¥102.42 after a 0.6% profit yesterday. The euro settled at ¥139.27, previously ¥139.21.
In other currencies, the Australian dollar was slightly changed at 92.42 US cents following it fell 0.7% yesterday. China, Australia’s biggest trading partner, will release figures on services and manufacturing.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar stayed within 0.1% of the sturdiest in three months against the euro as a gain in Treasury yields and jobs data due tomorrow was said to reflect an improving labor market amplified the greenback.
Demand for the single currency was restrained ahead of a report today projected to display euro-area inflation slowed down in May, heightening European Central Bank (ECB)’s case to enlarge easing on June 5.
“The dollar will be swayed by the employment data this week, along with moves in U.S. rates. The decline in Treasury yields we saw in May is starting to reverse, supporting the dollar,” said Etsuko Yamashita, Chief Economist at Sumitomo Mitsui Banking Corp.
The dollar was slightly changed at $1.3596 per euro as of 9:13 a.m. in Tokyo following it appreciated to $1.3586 on May 29, the strongest level since February 13. The US currency was at ¥102.42 after a 0.6% profit yesterday. The euro settled at ¥139.27, previously ¥139.21.
In other currencies, the Australian dollar was slightly changed at 92.42 US cents following it fell 0.7% yesterday. China, Australia’s biggest trading partner, will release figures on services and manufacturing.
The material has been provided by InstaForex Company – www.instaforex.com
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