Market Overview

3 June 2016 15:51

Konstantin Meinhardt

The U.S. dollar was supported last week by comments of several Fed officials, who noted that the Fed could raise its interest rate in June or July. The Fed Chairwoman Janet Yellen said last Friday that an interest rate hike would be likely appropriate "in the coming months". But the U.S. dollar dropped today on the weak U.S. labour market data. The U.S. economy added 38,000 jobs in May, missing expectations for a rise of 164,000 jobs, after a gain of 123,000 jobs in April. It was the smallest rise since September 2010. The U.S. unemployment rate fell to 4.7% in May from 5.

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