Dollar Edges Higher Ahead Of Fresh Data, Powell's Testimony
(RTTNews) - The U.S. dollar firmed against its major counterparts on Monday, as traders awaited some key economic data, and Federal Reserve Chair Jerome Powell's congressional testimony this week.
In economic news today, a leading indicator for payroll employment in the U.S. decreased in June, extending the declining trend over the past several months, and a signaled a slowdown in payroll hiring in the second half of the year, survey data from the Conference Board showed.
The Conference Board Employment Trends Index fell to 110.27 in June from a downwardly revised 111.04 in May.
The dollar index, which dropped to 104.80 around mid morning, climbed to 105.03 later on in the session, gaining about 0.15%.
Against the Euro, the dollar firmed to 1.0825 from 1.0840. Against Pound Sterling, the dollar edged up to 1.2806, gaining marginally. The dollar gained a bit against the Japanese currency, fetching 160.83 yen a unit, compared to 160.76 yen a unit on Friday.
The dollar firmed to 0.6737 against the Aussie. The Swiss franc weakened to 0.8977 a dollar, losing marginally from Friday's closing value. Against the Loonie, the dollar edged down slightly to C$ 1.3637.
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