The dollar rose marginally by 0.05% on Monday, from a month low of 91.94 reached on Friday, following a below-estimate nonfarm payroll job adds of 235,000. DXY is up +0.15%.
- The dollar-plunge on Friday reflected investor concerns over the bond tapering plans by the Federal Reserve, with the central bank expected to use the payroll numbers to determine policy.
- Analysts see Fed tapering waiting longer, with the Commonwealth Bank of Australia expecting it to occur from December, from the previous outlook of October.
- CBA analysts see the COVID situation in the US continuing to weigh on the dollar, with other economies posting a better outlook.
- The euro matched its June 29 highs at $1.1909 on Friday following dollar weaknesses and growing expectations of policy tightening by the ECB.
- The Australian dollar shed only 0.17% to $0.7435 on Monday, but remained almost close to the highest since July 15. New Zealand’s kiwi was down by 0.07% on Monday, slightly below Friday’s high of $0.7170, which was the highest since June 11.
And here is a golden tip
Want to profit from forex news? These forex robots earned the best historical yields to investors. Check out Best Forex Robots