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The U.S. dollar declined after U.S. employment data came out lower-than-expected

The greenback edged down following the released labor market data in the United States which came out unexpectedly low. The ADP National Report, released ahead of the U.S. nonfarm payrolls, showed that the private sector added up more than 158,000 jobs last June. This figure was lower-than-expected compared to the number of 230,000 new jobs created in May.

The index that tracks the value of the greenback relative to its major competing currencies, the U.S. dollar index, was 0.50 percent down at 95.81. Vs. the yen, the dollar declined by 0.07 percent closing at 113.17 yen.

Last Wednesday, the dollar was already trading cautiously following the released Fed minutes that failed to give a clear picture of future interest rate hikes. The weak macro-economic data published on Thursday added to the dollar’s further losses.

Stocks in Asia suffered on the rise of bond yields and poor U.S. labor data

Asian markets struggled to acquire gains on Friday’s opening bell after the release of weak U.S. employment data. The rise of sovereign bond yields overnight also had a negative effect on the market.

Bond market movements became the center of attention when they jumped overnight. The bond market sell-off was in-line with the expectations of central bank policies, which investors perceived to be non-dovish.

Looking on indices, Japanese benchmark Nikkei 225 lost as much a 0.61 percent; the South Korean Kospi declined by 0.39 percent. The Aussie ASX 200 fell more than 0.63 percent throughout the day.
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