US dollar holds losses as traders pare back rate bets
October 5, 2015 5:34 am
The US dollar nursed losses Monday as disappointing US jobs data made investors scale back bets the Federal Reserve was on course to increase interest rates as early as this month.
Last week, the nonfarm payrolls report showed the US employers added only 142,000 jobs in September.
The greenback finished at $1.1233 from Friday’s $1.1319. Against the Japanese yen, the currency closed at ¥120.01 from ¥118.68.
“Though the Fed anticipated to defer its first rate hike until the first quarter of 2016, we still believe “the US economy is one of the few capable of generating inflation due to a relative tight labour market,” said strategists at Barclays.
Uncertainty regarding the Fed’s timing of rate increase has kept the currency locked in ranges although the US central bank is still expected to be the first one to raise rates in the near term.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar nursed losses Monday as disappointing US jobs data made investors scale back bets the Federal Reserve was on course to increase interest rates as early as this month.
Last week, the nonfarm payrolls report showed the US employers added only 142,000 jobs in September.
The greenback finished at $1.1233 from Friday’s $1.1319. Against the Japanese yen, the currency closed at ¥120.01 from ¥118.68.
“Though the Fed anticipated to defer its first rate hike until the first quarter of 2016, we still believe “the US economy is one of the few capable of generating inflation due to a relative tight labour market,” said strategists at Barclays.
Uncertainty regarding the Fed’s timing of rate increase has kept the currency locked in ranges although the US central bank is still expected to be the first one to raise rates in the near term.
The material has been provided by InstaForex Company – www.instaforex.com
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