The US Dollar (USD) underperforms its major currency peers ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today
US Dollar was the weakest against the Japanese Yen. As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, is down 0.4% to near 101.00. Investors eagerly await the US NFP data as its impact on the Federal Reserve’s (Fed) interest rate expectations is expected to be significant, knowing that Chairman Kevin Warsh is least interested in providing forward-looking guidance regarding the monetary policy outlook. “Absent, also, is so-called forward guidance—which we agreed was not well suited to the current policy conjuncture,” according to the transcript of Fed Chairman Warsh’s June meeting press conference.
According to estimates, US employers hired 110K fresh workers in June, lower than 172K in May. The Unemployment Rate is expected to remain steady at 4.3%. Average Hourly Earnings, a key measure of wage growth, is estimated to arrive at 3.5% Year-on-Year (YoY), higher from 3.4% in May, with monthly figures rising steadily by 0.3%.