The dollar fell in the New York foreign exchange market on the morning of the 7th. Following the US employment report in June, expectations for further interest rate hikes have receded slightly. According to the statistics, the number of employees increased by 209,000 from the previous month, which was below the market forecast of 230,000. Meanwhile, average hourly wage growth exceeded market expectations and the unemployment rate fell.
U.S. Employment Falls to 209,000 in June, Signs of Slowdown in Labor Market (1)
The dollar fell 1.3% against the yen at one point to 142.17 yen to the dollar.
Bloomberg Dollar Index 1227.60-7.60-0.62%USD/JPY¥142.19-¥1.88-1.30%Euro/USD$1.0949$0.00600.55% 10:45 ET 10:45
In the U.S. Treasury market, the two-year bond yield, which is sensitive to monetary policy, fell 5 basis points (bp, 1 bp = 0.01%) to 4.93%. There was also a scene where it fell 12 bp at one point.
Valentin Malinov, head of G10 FX research and strategy at Crédit Agricole CIB, said the “reflexive dollar depreciation” will weaken. “The dollar will pick up as interest rate markets price in more aggressive U.S. monetary tightening from here,” he said.
原題：Dollar Drops After US Jobs Data, Yen Climbs to Two-Week High、Dollar Drops After US Jobs Data; Yen Leads Gains: Inside G-10、Stocks Mixed After Still Too Strong US Jobs Data: Markets Wrap(excerpt)
2023-07-07 14:47:06
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