EUR, GBP And JPY Gain Against Dollar
ICM Brokers | Aug 03, 2015 06:55AM ET
The euro moved higher against the dollar on Friday after data showing that U.S. wage growth slowed in the second quarter dampened expectations for a hike in interest rates in the coming months. The currency pair traded in a broad range between 1.0920 and 1.1115 during Friday's session, before settling at 1.0985, up 0.50%.
The pound moved higher against the dollar on Friday after data showing that U.S. wage growth stagnated in the second quarter prompted investors to push back expectations on the timing of a U.S. rate hike. GBP/USD hit 1.5550 during European morning trade, the pair's lowest since July 28; the pair subsequently consolidated at 1.5570, edging down 0.20%.
The Japanese yen gained on Friday as investors saw the core consumer prices rise in June as positive even as other Japanese data on jobs and household spending was downbeat. USD/JPY traded at 124.00, down 0.15%.Core consumer prices gained 0.1% in June year-on-year, compared to an expectation for a flat outcome. Japan's unemployment rate came in at 3.4%, a tick higher than the 3.3% seen while household spending fell 2.0%, well off a 1.7% gain expected.
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