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The greenback plunged from peaks, eyes are on further labor market figures

04 Apr,2024
The greenback plunged from peaks, eyes are on further labor market figures

The greenback languished to the lowest level in one week on Thursday, giving up some of its latest gains on the unclear picture of the interest rate trajectory and before the disclosure of more labor market figures.

The dollar index that gauges the greenback versus its major pairs dipped 0.1% at 103.855, plunging from the five-month peak of 105.10 witnessed previously this week.

EUR/USD advanced by 0.2% to 1.0858, buoyed by figures that demonstrated the eurozone business activity ast month witnessed expansion for the first time since May 2023.

GBP/USD added 0.1% to 1.2578, following activity figures that indicated that Britain's economy was on course to abandon recession when the next official Q1 growth figures are published.


USD/JPY ticked up by 151.75, lingering not far from levels not seen since 1990, with traders wary of any possible government intervention. 

Numerous Japanese officials have cautioned the markets from betting against the yen and stated that they would not rule out taking action to lower the value of the pair.


 

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