US employment data boosts Dollar

28 July, 2011


This afternoon’s non-farm payroll data is not the news you were looking for if you need to send money to the USA – the jobless total has fallen more than expected, as the US economy added more jobs in July than analysts had estimated.

The US Dollar has been volatile since the announcement, dropping below 1.67 [interbank rate] briefly but then rallying as the Pound has found some strength accross the board.

Those of you holding out for trading rates above 1.70 might like to reasses their targets following the main monthly employment news of the month from America.