In investing, what is comfortable is rarely profitable
The Shared currency surged to $1.2160 after U.S. nonfarm payrolls data showed hiring increased in May as the pandemic eased, but not as much as expected, tempering expectations the Federal Reserve will tighten monetary policy sooner, rather than later.
The Cable fell to $1.4125 on struggles to justify tapering fears and upbeat sentiment over the UK’s easing of virus-led activity restrictions, not to forget Brexit woes.
The Japanese yen gained to 109.45 versus the U.S dollar, despite Bank of Japan officials predict a weaker Japanese economic outlook for April due to subdued domestic consumption caused by the extended state of emergency and supply-side restrictions caused by semiconductor shortages.
The Aussie dollar rallied to $0.7736, ignoring disappointing Chinese trade figures and U.S. rate hike praises from U.S. Treasury Secretary Janet Yellen this weekend.
The Loonie gained to 1.2095, although Unemployment Rate in Canada ticked up to 8.2% in May.
South Africa's rand firmed at 13.43 versus the greenback thanks to a rise in commodity prices and a weakening U.S. dollar, as investors turned to riskier but high-yielding assets.
The local pair weakened by 5 cents to 40.90(Selling) this morning.