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Home›Swedish economy›Dollar Index Nears Stable As COVID Concerns Offset Upbeat Economic Data

Dollar Index Nears Stable As COVID Concerns Offset Upbeat Economic Data

By Suk Bouffard
August 9, 2021
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Previously, bitcoin hit its highest level in almost three months. It was up 4.3% to $ 45,726.71, while Ether was up 3.4% to $ 3,117.10.

The US Dollar Index, which measures the greenback against a basket of currencies, last rose 0.07% to 92.916, close to its four-month high of 93.194.

Data on Monday showed job postings in the United States hit a new record in June and hiring has risen. This follows Friday’s monthly U.S. employment report, which showed U.S. employers hired the most workers in nearly a year in July and continued to raise wages.

The report pushed bond yields higher, arguing that the Federal Reserve could act faster to tighten US monetary policy. Fed officials have made a recovery in the labor market a condition for tightening monetary policy.

“The market is struggling to balance signs of a stronger job market with growing concerns from the Delta,” said Adam Button, chief currency analyst at ForexLive. “These opposing forces have left it largely unchanged.”

The dollar rose sharply after Friday’s jobs report.

COVID-19 infections in the United States increased by at least 22,783 on Sunday to reach 35.94 million cases in total, according to a Reuters tally. The impact of the Delta variant in the United States has heightened concerns, as cases of COVID-19 also increase in Asia.

Against the dollar, the euro lost 0.2%.

The Japanese yen was little changed against the greenback at 110.26 per dollar, while the British pound last traded at $ 1.3852, down 0.14% on the day.

The sharp drop in oil prices weighed on the commodity-linked Australian dollar, which eased 0.2% to US $ 0.7334.

Speculators have reduced their net long positions in the dollar over the past week, according to data released on Friday, but they are still positioned for its gains.

=================================================== ======

Currency bid prices at 11:03 am (1503 GMT)

Description RIC Last closure US Pct Change YTD Pct High Bid Low Bid

Previous modification

Session

Dollar index

92.9160 92.8710 + 0.07% 3.262% +92.9620 +92.7180

Euro dollar

$ 1.1744 $ 1.1763 -0.16% + 0.00% + $ 1.1769 + $ 1.1741

Dollar / Yen

110.2650 110.2350 + 0.05% + 0.00% +110.3300 +110.0300

Euro / yen

129.49 129.65 -0.12% + 0.00% +129.6700 +129.4000

Dollar / Switzerland

0.9193 0.9152 + 0.48% + 0.00% +0.9197 +0.9147

Pound sterling / dollar

$ 1.3852 $ 1.3875 -0.18% + 0.00% +1.3894 $ +1.3846

Canadian dollar

1.2581 1.2552 + 0.24% + 0.00% +1.2588 +1.2532

Australia / Dollar

$ 0.7335 $ 0.7355 -0.27% + 0.00% + $ 0.7364 + $ 0.7329

Euro / Switzerland

1.0797 1.0758 + 0.36% -0.09% +1.0799 +1.0757

Euro / Pound

0.8476 0.8475 + 0.01% -5.16% +0.8486 +0.8462

New Zealand

Dollar / Dollar $ 0.7000 $ 0.7011 -0.14% -2.51% + $ 0.7026 + $ 0.6980

Dollar / Norway

8.9485 8.8995 + 0.67% + 0.00% +8.9570 +8.9075

Euro / Norway

10.5099 10.4590 + 0.49% + 0.41% +10.5184 +10.4449

Dollar / Sweden

8.7046 8.6640 + 0.25% + 6.20% +8.7099 +8.6597

Euro / Sweden

10.2242 10.1985 + 0.25% + 0.00% +10.2263 +10.1886

(Additional reporting by Tommy Wilkes in London; editing by David Holmes, Tomasz Janowski and Jonathan Oatis)

By Caroline Valetkevitch

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