Netherlands International: US employment data is key to US dollar trend

Odaily Planet Daily News: Dutch international analyst Turner said in a report that the upcoming US non farm payroll report will play an important role in determining whether the recent downward trend of the US dollar will continue. Federal Reserve Chairman Powell believes that stubborn inflation and a stable labor market mean that current interest rates should remain at restrictive levels. Any unexpected downturn in the employment report will weaken his position and push the market to price the expected rate cut at the July meeting. He said that unless the employment data is weaker than expected, the US dollar may continue to consolidate before the US holiday on July 4th. (Golden Ten)