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FOREX-Dollar edges higher before quarter-end

Published 06/30/2020, 03:39 AM
Updated 06/30/2020, 03:40 AM
EUR/USD
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GBP/USD
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USD/JPY
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DX
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* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

(Adds quote, details on the euro, updates prices)
By Karen Brettell
NEW YORK, June 29 (Reuters) - The greenback edged higher on
Monday as investors positioned for quarter-end and weighed an
increase in coronavirus cases in some U.S. states against
improving economic data.
Thursday's jobs report for June was also a factor in
portfolio adjustments.
“It's more or less just positioning. We've got just another
day or so left in the month and the market's bracing for jobs
data on Thursday,” said Joe Manimbo, senior market analyst at
Western Union Business Solutions in Washington.
U.S. employers are expected to have added 3 million jobs in
June, according to the median estimate of economists polled by
Reuters. Projections vary widely among economists, however, from
as few as 405,000 jobs to as many as 9 million.
Data on Monday showed that contracts to buy U.S. previously
owned homes rebounded by the most on record in May. Concerns about renewed weakness have grown, however, as
Texas, Florida and California are among U.S. states to reverse
reopenings and reclose businesses such as bars to slow the
spread of the coronavirus. The dollar index =USD rose 0.08% to 97.56.
The euro EUR= gained 0.11% to $1.1229.
The euro's 50-day moving average moved above its 200-day
moving average, known as a “golden cross,” on Friday, which may
indicate that the single currency is likely to gain in the
coming month or two.
Paul Ciana, a technical analyst at Bank of America, said in
a report on Monday that there have only been six so-called
golden cross signals in the currency when the 200-day moving
average was also rising since the euro began trading in 1999. In
five of these six times the euro was higher 45-50 days later.
The dollar gained 0.45% against the Japanese yen JPY= to
107.69 yen.
Sterling weakened to a one-month low against the greenback
on concerns about how Britain's government will pay for its
planned infrastructure program.
There are also doubts about whether Britain will seal a
trade pact with the European Union as little progress has been
made in agreeing on Britain's future relationship with the bloc,
which it exited on Jan. 31. The pound GBP= was last down 0.41% at $1.2283.
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Currency bid prices at 3:09PM (1909 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1229 $1.1217 +0.11% +0.17% +1.1288 +1.1218
Dollar/Yen JPY= 107.6900 107.2100 +0.45% -1.07% +107.8700 +107.0500
Euro/Yen EURJPY= 120.94 120.27 +0.56% -0.83% +121.3500 +120.1800
Dollar/Swiss CHF= 0.9516 0.9479 +0.39% -1.67% +0.9524 +0.9442
Sterling/Dollar GBP= 1.2283 1.2333 -0.41% -7.36% +1.2389 +1.2253
Dollar/Canadian CAD= 1.3691 1.3688 +0.02% +5.43% +1.3704 +1.3646
Australian/Doll AUD= 0.6855 0.6860 -0.07% -2.36% +0.6890 +0.6842
ar
Euro/Swiss EURCHF= 1.0688 1.0634 +0.51% -1.51% +1.0696 +1.0636
Euro/Sterling EURGBP= 0.9140 0.9093 +0.52% +8.11% +0.9176 +0.9085
NZ NZD= 0.6413 0.6423 -0.16% -4.80% +0.6442 +0.6405
Dollar/Dollar
Dollar/Norway NOK= 9.7035 9.6625 +0.42% +10.54% +9.7315 +9.6483
Euro/Norway EURNOK= 10.8982 10.9059 -0.07% +10.78% +10.9309 +10.8540
Dollar/Sweden SEK= 9.3245 9.3297 -0.02% -0.25% +9.3527 +9.2752
Euro/Sweden EURSEK= 10.4737 10.4753 -0.02% +0.04% +10.5105 +10.4528


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