Investing.com - The dollar moved higher against the euro on
Monday and was little changed against the yen after Friday's upbeat
U.S. jobs report for May indicated that the labor market is
continuing to improve.
EUR/USD slid 0.15% to 1.3622, off session highs of 1.3668.
The euro's losses were held in check amid expectations that the
European Central Bank will hold off on further monetary easing for
The ECB unveiled a package of measures to avert the threat of
persistently low inflation in the euro area on Thursday, but
stopped short of announcing an asset purchase program, a factor
which lent support to the euro.
Data on Monday showed that euro zone investor confidence
deteriorated unexpectedly in June, despite the ECB's new measures
to support growth and inflation.
The Sentix investor confidence index fell to 8.5 this month from
12.8 in May, compared to expectations for an uptick to 13.2.
Trading conditions remained light due to the Whit Monday holiday
in some parts of Europe.
The dollar was steady against the yen, with USD/JPY at 102.47,
holding below Friday's highs of 102.60.
The dollar remained supported after Friday's nonfarm payrolls
report showed that the U.S. economy added jobs for the fourth
successive month in May, with employment returning to its
The pair showed little reaction after data on Monday showed that
Japan's first quarter growth was revised sharply higher.
Japan's economy grew at an annualized rate of 6.7% in the first
three months of the year, up from a preliminary estimate of 5.9%
growth. The unexpected upward revision was due to a sharp upward
revision in Japanese corporate capital spending.
Elsewhere, the dollar was almost unchanged against the pound,
with GBP/USD at 1.6806, and gained ground against the Swiss franc,
with USD/CHF rising 0.21% to 0.8951.
The Australian dollar and the New Zealand dollar pushed higher,
with AUD/USD climbing 0.24% to 0.9355 and NZD/USD easing up 0.13%
to 0.8510. Meanwhile, USD/CAD was flat at 1.0929.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.10% to 80.52.
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