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Today’s Dollar Gains Temporary, Warn Analysts

Today’s Dollar Gains Temporary, Warn Analysts (Reuters)

Today’s release of better-than-anticipated jobs data pushed the U.S. dollar to broad gains. However, analysts warn that this upside is limited, since concerns about a potential government shutdown, as well as Federal Reserve stimulus tapering, could halt or even reverse these gains in the near future. “The dollar … found an overall tailwind in unsurprisingly solid news on America’s job market, which keeps a Fed taper on the table for possible use in late October,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.

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Today's release of better-than-anticipated jobs data pushed the U.S. dollar to broad gains.

archive

Today’s Dollar Gains Temporary, Warn Analysts

Today’s release of better-than-anticipated jobs data pushed the U.S. dollar to broad gains.

Today’s Dollar Gains Temporary, Warn Analysts (Reuters)

Today’s release of better-than-anticipated jobs data pushed the U.S. dollar to broad gains. However, analysts warn that this upside is limited, since concerns about a potential government shutdown, as well as Federal Reserve stimulus tapering, could halt or even reverse these gains in the near future. “The dollar … found an overall tailwind in unsurprisingly solid news on America’s job market, which keeps a Fed taper on the table for possible use in late October,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.

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