Dollar Soars Ahead of Payrolls but Can the Rally Last?
Daily FX Market Roundup 06.03.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The U.S. dollar traded sharply higher against all of the major currencies on Thursday with USD/JPY closing above 110 for the first time since April which is a sign that investors are positioning for a strong report. Last month’s jobs number was abysmal with U.S. companies adding only 266K new workers. Economists are looking for job growth to more than double in May but the problem is that other U.S. indicators favor a softer report. Although weekly jobless claims fell below 400K for...
Source: bkassetmanagement.com