Greenback stands still, pound sags before UK election

Greenback stands still, pound sags before UK election

On Thursday, the evergreen buck stood still after some poor American economic data overnight.

The US dollar index, soared 0.07%, being worth 96.98.  Nevertheless, the US dollar was backed by hopes for a Fed rate lift in June.

This month the markets odds of a rate lift keep to 85%.   

On Thursday, John Williams, Fed member repeated his view of three rate lifts in 2017.

Market participants are currently waiting for ADP nonfarm payroll data in the session ahead of official jobs report on Friday.

The greenback soared 0.20%, hitting 111.00 yen. Meanwhile, the British pound lost 0.30%, being worth $1.2851 as one survey suggested Tories could be deprived of majority in June 8 general election.

The common currency stood still, keeping to $1.12.

The Australian dollar sagged after the May Caixin PMI demonstrated that Chinese manufacturing went down for first time for 11 months.

As for the Yuan, it hit levels last observed in November on hopes for PBOC support.

 

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