Dollar slips as US job growth slows in June, yen jumps

in June, the Labor Department said in an employment report that also showed 110,000 fewer jobs were created in April and May than earlier reported.

"This is a inflection point," he said. "The dollar's rally in the second half of June was a counter-trend correction and the dollar’s underlying downtrend that began last September-October will resume." "We're still in striking distance of 145, which appears to be the line in the sand, with Treasury yields - the 10-year in particular keeping above 4% - that's a sign that any moves to the downside in dollar-yen may prove very limited."The dollar and other major currencies, with the exception of Japan's yen, are in a tight trading range as most central banks are engaged in tightening monetary policy to fight inflation.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dollar slips after US job growth slows in JuneThe dollar fell on Friday after data showed job gains were less than expected in June, even as strong wage growth pointed to a still resilient labor market that likely ensures the Federal Reserve will resume hiking interest rates later this month.
Source: ReutersAfrica - 🏆 31. / 53 Read more »

South African rand firms as dollar weakens, stocks riseSouth Africa's rand strengthened on Friday as the dollar weakened after U.S data showed job growth slowed more than expected in June.
Source: ReutersAfrica - 🏆 31. / 53 Read more »