The U.S. dollar inched higher against the euro on Monday but pared some early gains, as investors continued to digest last week’s strong U.S. employment report and speculated about when the Federal Reserve is likely to begin raising rates.
The dollar stabilized after a week of gains, with no major U.S. economic releases due this week and trading expected to be relatively light after the Independence Day holiday.
The dollar has gained and the Treasuries yield curve has flattened after data on Thursday showed nonfarm payrolls increased by 288,000 jobs last month and the unemployment rate fell to 6.1 percent from 6.3 percent in May.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.