FX Strategy Briefing: USD Modestly Lower Ahead of Employment Data

By Hans Nilsson
03 September 2010 @ 03:06 am EDT

The dollar traded mostly lower on Thursday ahead of important US employment data on Friday. The dollar index, down for six out of the last seven days, is approaching the important 82 support. If this support holds, a short-term USD rally may occur. Treasuries weakened. US pending home sales unexpectedly rose in July and initial jobless claims declined, easing concern about slowing US economic growth. The S&P 500 gained 9.81 to 1,090.10. The USD/JPY was down modestly.

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