jeudi 29 août 2013

Dollar Rises on Data, But Strong Payrolls Needed

Jobless claims fell as expected and 2Q GDP got revised up, and with QE tapering on everybody's mind, that seems to be enough to make the dollar rally against just about everything, from the yen and euro to the Scandies. How long those dollar gains will last, however, is up for debate. On its own, the jobless claims number isn't impressive enough to herald a strong August payrolls number next week, which is the key piece of data investors are now waiting for. Also, traders seem ready to sell the greenback on any hint of Syria action. USD/JPY at Y98.37, from Y98.24 before the data. Euro down 0.7% to $1.3241.

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