The US dollar edged sharply lower against its major counterparts in early New York trading on Friday following the disappointing employment report signaled that the U.S. economic recovery may be losing steam. According to the report released by the Labor Department, the U.S. economy added an anemic 18,000 jobs in June, well below the 105,000
The European currency erased its Asian session gains against its major counterparts in early European deals Friday as European equities trimmed their initial gains ahead of the U.S. Labor Department’s highly anticipated monthly employment report, which is due out later in the day. The common currency exhibited strength in Asian trading after the European Central
The pound extended its previous session’s decline against the currencies of the U.S., Japan and Switzerland on Wednesday morning in New York as traders switched holdings from risk-yielding currencies to safe-haven assets after a report showed that the U.S. service sector grew at a slower pace than economists had anticipated. The Institute of Supply Management
The Japanese yen showed mixed trading against its major counterparts in the Asian session on Wednesday. While the yen advanced to a 2-day high against the Canadian dollar, it rose slightly against the pound, franc and the US dollar. The yen also strengthened against the aussie in early deals, but pared gains shortly. On the
The euro pulled back from its early Monday Asian session’s fresh multi-weeks highs against the dollar and the yen as traders sold the single currency after Standard & Poor’s warned that Greece’s debt rollover plan could shift the ratings into selective default. Meanwhile, the euro fell to a 4-day low against the pound. “It is
