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The dollar is dented by tariffs and a slowdown in wages
In the economy of March 13, 2018comments on the dollar is waning by tariffs and slowing wages closed 42 visits
Follow-up / SNG - The US Dollar fell as it came under pressure from data showing a slowdown in US wage growth that is likely to prevent the Federal Reserve from raising interest rates more than three times this year.
Traders said the dollar was also under pressure from the prospect of a global trade war after President Donald Trump imposed tariffs on imports of steel and aluminum.
Non-farm payrolls data showed US job gains in February were much higher than expected, but wage inflation, closely watched by the US central bank, remained lukewarm.
Average hourly wages rose four cents, or 0.1 percent, to $ 26.75 in February, down from 0.3 percent in January, the data showed. That cut the year-on-year increase in average hourly wages to 2.6 percent from 2.8 percent in January.
The dollar fell 0.4 percent against the Japanese currency to 106.37 yen in late trading in the New York market, while fell 0.5 percent against the Swiss currency to 0.9470 francs.
On the other hand, the euro rose 0.25 percent against the dollar to $ 1.2336, pushing the dollar index down 0.2 percent to 89.90.
After a strong start in 2018, the euro remains below its three-year high of $ 1.2556 in February.
http://sngiq.net/wordpress/?p=119034
In the economy of March 13, 2018comments on the dollar is waning by tariffs and slowing wages closed 42 visits
Follow-up / SNG - The US Dollar fell as it came under pressure from data showing a slowdown in US wage growth that is likely to prevent the Federal Reserve from raising interest rates more than three times this year.
Traders said the dollar was also under pressure from the prospect of a global trade war after President Donald Trump imposed tariffs on imports of steel and aluminum.
Non-farm payrolls data showed US job gains in February were much higher than expected, but wage inflation, closely watched by the US central bank, remained lukewarm.
Average hourly wages rose four cents, or 0.1 percent, to $ 26.75 in February, down from 0.3 percent in January, the data showed. That cut the year-on-year increase in average hourly wages to 2.6 percent from 2.8 percent in January.
The dollar fell 0.4 percent against the Japanese currency to 106.37 yen in late trading in the New York market, while fell 0.5 percent against the Swiss currency to 0.9470 francs.
On the other hand, the euro rose 0.25 percent against the dollar to $ 1.2336, pushing the dollar index down 0.2 percent to 89.90.
After a strong start in 2018, the euro remains below its three-year high of $ 1.2556 in February.
http://sngiq.net/wordpress/?p=119034
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