Friday, 2 Apr 2010

Dollar Advances on Positive Payrolls Figures

The Dollar rose today against most of the major currencies. The Dollar gained about 100 pips against the Yen and the USD/JPY pair rose to a 7-month high. The Dollar rose against the Euro and the Pound as well.

The Dollar soared today after the U.S. Non-Farm Employment Change report showed that payrolls in the U.S. have climbed by 162,000 in March. This has been the biggest employment gain in the U.S. since March of 2007. The positive figure has proved once again that the economy is recovering faster than expected, and the Dollar rallied as a result.

Looking ahead to next week, both the European and the British monthly Interest Rates will be announced on Thursday. Currently, analysts forecast that the central banks won't manipulate the rates. However, if any of the central banks will surprise and hike rates, this is likely to boost the local currency.