Previous close | 132.9990 |
Open | 132.9960 |
Bid | 133.4800 |
Day's range | 132.8600 - 133.8940 |
52-week range | 109.1130 - 139.3770 |
Ask | 133.5100 |
By Ambar Warrick
The U.S. dollar posted more gains against the Japanese yen in early European trade Monday, although was subdued overall after last week’s strong U.S. nonfarm payrolls number raised expectations for further aggressive monetary tightening by the Federal Reserve. The prime driver behind these moves was the red-hot July U.S. jobs report, which stated that nonfarm payrolls increased by over 500,000 last month, over double the amount expected. This suggests the country’s labor market remains strong, even after a series of hefty interest rate rises to combat inflation, and gave the Federal Reserve considerable license to continue with a super-sized hike in September.