020 7898 0500Non-farm payrolls data came in way below expectations on Friday, but this did nothing to stem the dollar’s recent run against sterling and the euro. In sharp contrast to the UK, it is widely expected that the Federal Reserve will increase interest rates at its June meeting and much of the dollar’s recent performance is because of that.
The unemployment rate was expected to come in at 4%, but it was actually 3.9% which is the lowest rate since December 2000. Today is a fairly quiet day for US economic data, but things get busier on Thursday, when we will see initial jobless claims up to 5 May 2018 and the inflation rate for April.
