US Dollar vs Pound hits 3 week high
The US Dollar vs both the Euro and the Pound has started to increase once again ahead of the latest US employment data due out later today.
The US ADP jobs report published yesterday was stronger than expected and this has provided further levels of support for the US Dollar.
The most recent Federal Reserve minutes were also published this week which has signalled that we could see further interest rate hikes moving into this year.
As we look ahead to later today we end the week with a number of announcements made by Fed speakers, which could see further US Dollar strength vs the Euro and the Pound later this afternoon.
US Jobs Report to provide strength for the US Dollar
The data from the jobs report later today is likely to provide further support for the US Dollar as it will likely highlight the resilience in the world’s biggest economy.
US unemployment levels are expected to fall from 3.7% to 3.6%.
Later today we also see the latest release of Non-Farm Payroll data in the US with expectation for 200,000 new jobs created outside of the agricultural sector.
If we see anything better than this we could see the US Dollar end the week on a high.
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