FXStreet (Córdoba) - Despite outstanding nonfarm payrolls figures, the UBS noted the USD has not strengthen much as regardless data the Fed continues to signal no intention to tighten monetary policy.
“Strong US data is a necessary, but not a sufficient condition for the USD to strengthen”.
“The final US PMI for June jumped to 61, the unemployment rate dropped to 6.1%, non-farm payrolls soared to 288'000 newly employed and the USD did not do a lot and bond yields hardly moved”.
“Some complained, that there were more part-time employees and less full-time employees. Whatever, the data is strong and the main problem for the currency is that the Fed signals no intention to tighten monetary policy”.