Investing.com - The dollar held steady against most major
currencies on Monday, mainly as investors remained in standby mode
ahead of key central bank meetings this week.
Sentiments that Friday's July jobs report was better than
initially interpreted coupled with rising U.S. stock prices gave
the greenback some support over its peers.
In U.S. trading on Monday, EUR/USD was down 0.06% at 1.3420.
Later this week, the Bank of England, the Bank of Europe and the
Reserve Bank of Australia will unveil their latest decisions on
interest rates and monetary policy, which kept many on the
sidelines on Monday and stabilized the dollar.
U.S. stocks rose on Monday after legendary investor Warren
Buffett's company Berkshire Hathaway Inc (NYSE:BRKa) beat
expectations, which gave the dollar some support.
Elsewhere, a second take on Friday's U.S. July jobs report left
investors concluding the U.S. labor market continues to improve
despite persistent slackness, which also gave the dollar
The Labor Department reported Friday that the U.S. economy added
209,000 jobs in July, missing expectations for an increase of
233,000, though July marked the sixth consecutive month that the
U.S. economy created over 200,000 new payrolls.
The report also showed that the U.S. unemployment rate ticked up
to 6.2% last month from 6.1% in June. Analysts had expected the
rate to remain unchanged in July, though the report revealed that
more unemployed Americans were entering the labor force in search
of work last month, a positive sign.
The unemployment rate does not include discouraged unemployed
individuals who have given up actively searching for work, so a
decision by many to look for jobs can send the headline rate
higher, though it also suggests out-of-work Americans are more
hopeful with their job prospects.
The dollar was down against the yen, with USD/JPY down 0.07% at
102.54, and up against the Swiss franc, with USD/CHF up 0.06% at
The greenback was down against the pound, with GBP/USD up 0.21%
The U.K. construction purchasing managers' index slowed to 62.4
in July from 62.6 in June, better than expectations for a 62.0
The overall pace of growth was still the fastest since 2007,
which gave the pound an edge over the dollar.
The dollar was down against its cousins in Canada, Australia and
New Zealand, with USD/CAD down 0.07% at 1.0909, AUD/USD up 0.21% at
0.9334 and NZD/USD up 0.12% at 0.8524.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.01% at 81.40.
On Tuesday, the U.S. is to publish data on factory orders, while
the Institute of Supply Management is to release data on
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