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Forex - Weekly outlook: August 10 - 14

© Reuters. Dollar slips lower despite solid U.S. jobs report

Investing.com - The dollar slid lower against the other major currencies on Friday despite a solid U.S. employment report for July as investors took profits following the greenback’s recent run higher.

The Labor Department reported that the U.S. economy added 215,000 jobs last month, slightly lower than forecasts for an increase of 223,000, but still consistent with strong employment growth.

The unemployment rate remained unchanged at 5.3%, in line with expectations.

Hourly earnings, a component of the jobs report that the Federal Reserve has said must rise, ticked up 0.2%, also matching forecasts after stalling in the previous month.

The data was seen as reinforcing expectations for higher U.S. interest rates.

In the past three months the dollar has been boosted by investor expectations that the Federal Reserve will raise short term interest rates in the coming months, possibly as early as September.

The dollar rose to two-month highs of 125.07 against the yen, before sliding 0.37% to 124.27 in late trade.

The euro was last up 0.37% for the day at 1.0964 after falling to lows of 1.0856 immediately following...


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