Forex – Dollar Flat as Safe-Haven Yen, Swiss Franc Inch Higher

Forex – Dollar Flat as Safe-Haven Yen, Swiss Franc Inch Higher

Investing.com – The dollar was mostly unchanged against a basket of major currencies on Monday after data showed US employers posted fewer job openings than expected in October, pointing to signs of possible weakness in the labor market.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.03% to 93.82.

The U.S. Labor Department’s latest (JOLTs) report, a measure of labor demand, showed job openings in October cooled to about 6 million, missing expectations of 6.03 million.

The subdued report comes as investors continued to mull over last Friday’s November nonfarm payrolls showing wage growth remained stagnant, despite an uptick in the number of jobs created.

Also weighing on the dollar was an uptick in the safe-haven currencies like the yen and Swiss franc after an explosion in New York weighed on risk sentiment.

fell 0.07% to Y113.40, while fell 0.25% to 0.9902.

The dollar has added to recent gains as sentiment on the greenback improved following data showing traders continued to reduce their bearish bets on the greenback.

US dollar large speculative net short fell 2,100 to 8,500 last week, according to the Commitment of Traders (CoT) CFTC report last week.

fell 0.27% to $1.3357, while rose 0.16% to $1.1793.

rose 0.07% to $1.2857 as the pair traded within a narrow range amid lighter trading volumes.

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

(Why?)

Source

Reply