Different USD
The trades of the United States currency at the Forex markets in relation to main currencies were quite different. The USD has added a bit in relation to the Japanese Yen and decreased slightly against the Euro.
Rather positive jobless report issued last Friday made traders and experts suggest that the second 6 month of 2008 will be probably a period of the recovery for the US economy and financial markets.
This report provided a data concerning the number of jobs lost throughout April. And this number turned to quite lower than the one expected by the market (20 000 instead of 75 000 expected).
Several experts say about the United States economy indices that have finally shifted their downward trend and suppose that will be a sufficient reason for the Federal Reserve to stop decreasing interest rates. The Federal Reserve officials have expressed the same hopes however they announced another rates cut to 2% level. Here we should mention that the initial interest rate was at the level of 5.25% before all those rates cut have begun last autumn.
Andrew Spencer a Forex analyst at Thomson IFR Markets supposed that the United States currency obtained some support finally and the Euro turned to certain downward trend after the period of significant growth in relation to the USD. He has also mentioned that the holidays in Japan may cause some significant changes at the Forex markets as the investors will start to buy USD.
