Dollar bides time before services data after labour market rebound

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The dollar was largely steady on Monday as investors soaked up last week's strong U.S. employment report and looked ahead to data on the U.S. services sector for affirmation of a solid economic rebound from the coronavirus shock.

TOKYO - The dollar was largely steady on Monday as investors soaked up last week’s strong U.S. employment report and looked ahead to data on the U.S. services sector for affirmation of a solid economic rebound from the coronavirus shock.

The greenback posted its best quarter against major currencies in almost three years in January-March thanks to an improving U.S. economy and rising Treasury yields. “I thought there would be a correction lower in the dollar, but that didn’t happen,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.

 

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long live the mighty global US dollar.

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