US Dollar decline

Latest news on US Dollar decline

The US dollar made significant breaks lower vs. a lot of the majors, bringing the DXY index under increasing trend-line support and the 200 SMA at 83.25 as the markets experienced a revival in risk appetite. The 1st strong cause was the official outcome of the US government?s stress test of the 19 biggest financial institutes, which indicated that ten necessary added capital, as anticipated. The 2nd cause was the release of US non-farm payrolls, which dropped by 539,000 in April, less than the anticipated decrease of 600,000, taking the unemployment rate increase to 8.9 %. These are rather harsh figures, as the unemployed rate is at its top level since 1983 and payrolls have contracted for 16 successive months, causing the total number of job losses to increase to 5.738 million since the start of 2008.
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