TOKYO, June 8 — The US dollar fell against the Antipodean currencies and the British pound after surprising improvement in US labour market data bolstered expectations for economic recovery, which reduced safe-harbour demand for the greenback. The Australian and New Zealand dollars both rose to...
The US dollar traded near its highest in more than two months against the yen, supported by recent gains in long-term Treasury yields. — Reuters pic
In contrast, the US dollar traded near its highest in more than two months against the yen, supported by recent gains in long-term Treasury yields as investors await the outcome of a US Federal Reserve meeting. The jobless rate also fell to 13.3 per cent last month from a post-World War Two high of 14.7 per cent in April, offering hope that the world's largest economy is starting to stabilise after the pandemic triggered a wave of job cuts.
The pandemic first emerged in China late last year and has caused a sharp contraction in global economic activity, but many traders are now focused on the pace of recovery in the second half of this year.
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