The US Dollar advanced against all of its primary currency rivals yesterday, gaining modestly against the EUR, JPY, GBP, AUD, and NZD primarily. A downturn in US stocks towards the end of the day helped to fuel another surge of risk aversion in the forex market. The result has been a steady boost to the USD, a decline to stocks, and falling commodity prices, albeit only slightly.
Against the EUR, the greenback returned to the 1.2155 price level before turning back slightly for a current price near 1.2175. Versus the Yen, the buck has only seen steady improvement, with the price floating strongly above 92.50. Gains similar to that seen against the EUR can be seen against almost all of the other currency rivals.
Ahead of the US Non-Farm Payroll data, expected at 12:30 GMT today, the Dollar seems to be trading on the upside. The forecast has put American employment into a healthy increase for the previous month, with a concurrent drop in the official unemployment rate alongside it. The NFP is expected to show an increase of over 500,000 jobs last month. Should the figure come in near what is expected, the USD will likely see a gratuitous increase given the risk averse climate currently in play.