Dollar Advances to One-Month High as U.S. Companies Add Jobs
July 30 (Bloomberg) -- The dollar rose to a one-month high versus the euro and the yen after a private report showed U.S. companies unexpectedly added jobs this month.
The greenback also gained as a decline in crude oil eased concern elevated fuel costs will erode consumer spending. New Zealand's dollar dropped against all of the other major currencies except the Australian dollar after Reserve Bank Governor Alan Bollard said slowing economic growth will curb inflation in the next two years.
``It's premature to say employment destruction has hit bottom, but today is a good sign,'' said Mike Moran, a senior currency strategist at Standard Chartered in New York. ``In conjunction with a pullback in oil prices recently, it certainly contributed to the dollar's recovery.''
The dollar increased 0.4 percent to $1.5524 per euro at 9:49 a.m. in New York, from $1.5588 yesterday. It touched $1.5522, the strongest level since June 24. It may advance to $1.5460, Moran said. The U.S. currency rose 0.2 percent to 108.30 yen, from 108.11. It touched 108.33, the highest since June 25. The euro fell 0.2 percent to 168.14 yen, from 168.53.
11:38 AM
Subscribe to:
Post Comments (Atom)
DISCLAIMER
By using this website, the reader agrees not to hold the Webmater ofNewForexTradingSystem , or any of its affiliates, liable for decisions that are based on information contained or implied in this blog. The reader agrees not to hold the Webmaster of NewForexTradingSystem, or any of its affiliates, liable for products or services that are bought based on the recommendations found on this website, or for any partnerships or other dealings that may originate on the forum, private messaging, or any other source. The Webmaster may, from time to time, host 3rd party services on the newforextradingsystem.blogspot.com website ("hosted services"). This is by no means a recommendation to use these services, and visitors agree not to hold the Webmaster, or any of its affiliates, liable for losses that may occur due to the use of such hosted services. The Webmaster of NewForexTradingSystem highly recommends that before making a decision, thNewForexTradingSysteme reader collects several opinions related to the decision and verifies facts from several other independent sources. Forex Trading is a risky business and you should therefore never make a decision based solely on the information found on this or any website.
0 comments:
Post a Comment