© Reuters. The dollar remains lower after the employment
Investing.com – The dollar remained slightly lower against the other major currencies on Monday after the report on the american jobs Friday has tempered expectations of a rate hike faster than expected this year.
The dollar index, which measures the greenback’s strength against a basket of six major currencies, was at 89,94 at 10:13 AM (14:13 GMT), down from 0.13% for the day.
The u.s. economy has gained 313 000 jobs in February, reported on Friday the department of Labor, but average hourly earnings only rose 0.1%.
The strong employment growth has stimulated the appetite for risk, while the slowdown in wage growth has dampened the expectations of the four rate hikes by the Fed this year, a negative trend for the dollar.
The euro was little changed, with the EUR / USD last at 1,2310 after having increased up to 1,2341 earlier.
The pound sterling has boosted the greenback, with the USD / GBP up 0.27% at 1.3889.
The pound’s gains were limited by fears that the next summit of Brexit does not lead to a transitional agreement.
The british pound was higher against the euro, with EUR / GBP down by 0.2% to 0,8863.
Against the yen, the dollar falling, with the USD / JPY down 0.24% to 106,54.
The demand for the japanese currency was stimulated by the concerns raised by a scandal of cronyism linked to the country’s prime minister and his wife involving the sale of public lands. The yen tends to rise in times of market uncertainty.