Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Monday, as risk appetite was boosted after Friday’s better-than-expected U.S. jobs data while the euro rebounded from a three-week low.
During European morning trade, the greenback was lower against the euro, with EUR/USD climbing 0.57% to hit 1.4399.
The euro continued to be supported by expectations that the European Central Bank will raise interest rates further this year.
The greenback was slightly lower against the pound, with GBP/USD easing up 0.02% to hit 1.6370.
Earlier in the day, a report showed that house prices in the U.K. unexpectedly dropped in April.
Elsewhere, the greenback edged higher against the yen but slipped against the Swiss franc with USD/JPY easing up 0.15% to hit 80.75 and USD/CHF shedding 0.31% to hit 0.8763.
Earlier Monday, the minutes from the Bank of Japan’s April meeting said that policymakers believe Japan’s economy is still struggling under heavy downward pressure following the March 11 earthquake and tsunami.
Meanwhile, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD sliding 0.24% to hit 0.9640, AUD/USD rising 0.61% to hit 1.0766 and NZD/USD climbing 0.24% to hit 0.7924.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.48%.
Data on Friday showed that U.S. nonfarm payrolls rose by 244,000 in April, far outstripping the expected 185,000 forecast gain, as the private sector posted the strongest employment gain in five years.
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