Private Sector Job Growth Takes Hold in the US

Dollar higher, though, as focus remains on the eurozone

The US dollar is higher today, in spite of positive jobs data. Private payrolls indicate that hiring is on the rise in America, but disappointing earnings news, combined with fresh worries about the eurozone, has risk appetite in retreat and the US dollar surging against the euro in forex trading.

Indeed, the euro has plummeted below the 1.28 level. Worries about Italy’s biggest bank, as well as the rising cost of French debt (and the possibility of a credit rating downgrade), have the 17-nation currency retreating in earnest.

So, instead of risk appetite getting a boost by an improving situation in the US, Forex traders and investors are transfixed by the looming debacle in the eurozone. 

See Also

• Euro in Forex Trading
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