The dollar slipped on Friday against other major currencies such as the euro and the yen ahead of the release of data on the unemployment rate and the number of jobs in the US, according to trading data.
As of 13.45 Moscow time, the euro rate against the dollar increases to 1.1026 dollars from the previous closing level of 1.1011 dollars, the dollar rate against the yen decreases to 134.25 yen from 134.27 yen. And the dollar index (the exchange rate against a basket of currencies of six countries – US trading partners) is reduced by 0.1%, to 101.3 points.
The US currency is weakening before the release of economic statistics. At 15.30, the US Department of Labor will release data on unemployment in the country, it is expected that its rate in April increased to 3.6% from 3.5% a month earlier, and the number of non-farm payrolls in the country’s economy grew by 180 thousand after an increase of 236 thousand in March. This data may give investors a hint about the pace of economic growth in the US.
Positive for the euro also contributes to the decision of the European Central Bank to raise the discount rate on Thursday by 0.25 percentage points to 3.75%. The tightening of monetary policy contributes to the strengthening of the currency.