The U.S. dollar fell against the Antipodean currencies and the British pound after surprising improvement in U.S. labour market data bolstered expectations for economic recovery, which reduced safe-harbour demand for the greenback.
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
Sentiment has improved dramatically in the currency market as traders focus on signs of a rebound from the coronavirus outbreak, which has hurt the dollar and driven money into so-called risk-on trades. Some investors may avoid making big trades before the Federal Reserve meeting ending on Wednesday to see how Chairman Jerome Powell views a recent rise in 10-year Treasury yields and a steepening in the yield curve.is in focus after data on Sunday showed exports from China, the world's second-largest economy, fell less in May than the market expected.
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