The U.S. Dollar Slightly Elevated Today


The U.S. Dollar Slightly Elevated Today

The U.S. Dollar Slightly Elevated Today in Asia followed by the unexpected increase in the payrolls in the U.S.and also due to the U.S. and China positive signs in the trade negotiations.

The U.S. Dollar rose 0.02% to 98.44 by 10:01 PM ET (02:01 GMT).

The tariffs take effect both in China and the U.S, officials from both sides recommended that negotiations would kick off again next month.

Compared to Thursday’s fix of 7.0852, The People’s Bank of China (PBoC) set the reference rate for the yuan at 7.0855.

The recent data which showed that the private payrolls grew by 195,000 in August, higher than the expected 140,000 helped U.S Dollar.

Mark Zandi, chief economist at Moody’s, in a statement quoted by CNBC, said that “Businesses are holding firm on their payrolls despite the slowing economy, “Hiring has moderated, but layoffs remain low.”

The USD/JPY pair traded up 0.14% at 107.07. The progress in the Yen follows data out today showing household spending increased 0.8% in July. But the increase was lower than the 2.7% recorded in June. It is the eighth successive month of enlargement and the prolonged since 2000.

The ADU/USD pair was level at  0.6814

The NZD/USD pair rose 0.13% to 0.6381.

Now the investors are awaiting an address today from Jerome Powell, U.S. Federal Reserve Chairman and a new jobs report in the U.S.