Next Test For Dollar Friday
The dollar surged against key currencies Wednesday after the Federal Reserve bought dollars in concert with central banks of several countries.
But analysts and traders say the intervention’s lasting success will be keenly tested by the release Friday of May U.S. employment data, which many forecast to show a significant upward revision in the unemployment rate for April, said Ann Mills from Lehman Bros.
“We’ll see if greed overcomes fear,” Mills said. “I think a lot of people will be looking at this (intervention) as a selling opportunity and Friday’s unemployment numbers will be a focus.”
Exchange Currency in Dollars Dollar in foreign currency
Canada .7307 1.3685
France .2017 4.9575
Germany .7085 1.4115
Great Britain 1.5875 .6299
Italy .000610 1639.20
Japan .011841 84.45
Mexico .162470 6.1550