empty
 
 

2023.06.0221:47:00UTC+00Dollar Rises Against Major Rivals On Strong Jobs Data

The U.S. dollar climbed higher against its major counterparts on Friday thanks to stronger-than-expected job growth in May.

Data from the Labor Department showed U.S. employment surged by much more than expected in the month of May.

The report showed non-farm employment soared by 339,000 jobs in May after spiking by an upwardly revised 294,000 jobs in April. Economists had expected employment to climb by 190,000 jobs compared to the jump of 253,000 jobs originally reported for the previous month.

The data also showed that the unemployment rate rose to 3.7% in May from 3.4% in April. The unemployment rate was expected to inch up to 3.5%.

The dollar index surged to 104.09, gaining more than 0.5%.

Against the Euro, the dollar firmed to 1.0708 from 1.0764. The dollar strengthened to 1.2452 against Pound Sterling, rising from 1.2527.

Against the Japanese currency, the dollar was up sharply at 139.97 yen, rising from 138.79 yen. Against the Aussie, the dollar eased to 0.6606 from 0.6571.

The dollar rose to CHF 0.9088 from 0.9056, and eased to C$ 1.3429 agaisnt the Loonie.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback