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Dim Prospects for Canadian Dollar, Pound
Posted on June 04, 2008
The US dollar is stronger today against currencies like the Canadian dollar, British pound and Japanese yen, but remains more or less unchanged versus the Euro, Swiss franc.Broadly speaking, sentiment is still supportive of a USD rebound. The ADP employment report released today showed that private sector jobs rose by 40,000 in the US in May, better than the 30,000 drop expected by most economists. In April, 13,000 jobs were added by the private sector, which was revised up from the previously reported 10,000. Although the ADP data isn t very telling, it gives a glimpse of how the government...
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