Forex News

Unexpected Jobs Data halt Safe-haven Dollar Momentum

Unexpected Jobs Data halt Safe-haven Dollar Momentum


The Dollar Steadied after the biggest loss in 10 days following the recent release of disappointing U.S. labor data hampered the hope of ruptured economic recovery from the COVID-19 Pandemic.

The U.S. Dollar gradually claiming its Safe-Haven asset position, however, the unexpected inclination of U.S. jobless claims made it a worrisome situation.

The Disappointing data is impacting the dollar but the market is hopeful and optimism is high in regards to the $1.9 trillion stimulus package proposed by President Joe Biden with other major economic indicators.

The GBP/USD pair slightly down 0.12% to 1.3954. The Sterling hovered after jumped to an almost three-year high. The progressive vaccination rollout in the United Kingdom made pounds to achieve the highest gains in more than a month.

The U.S. Dollar Index slightly up 0.09% to 90.632 against a basket of other currencies.

The USD/JPY pair inched high 0.06% to 105.72.

The AUD/USD inched down to 0.06% to 0.7762 with NZD/USD pair also inched down 0.19% to 0.7206.

The USD/CNY pair dropped 0.27% to 6.4691.