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Dollar snaps losses as JOLTS unexpectedly rise- USD/JPY rebounds
The May JOLTS- jobs opening numbers have just been released. The markets were expecting a lower number of job vacancies. Well, that is not what just showed up. JOLTS rose to 8.14 million. Ahead of this the Dollar had been slipping back across the board. That was delivered by a fall in US yields (edging back to 4.72% in the 2 year note) and that had helped the Yen and Gold. Gold was rebounding from an earlier low at $2,319.28, to back above $2,335 and the USD/JPY had dropped towards 161.25, from an earlier high at 161.74 (a new 38 year high). The Fed boss, Jerome Powell had been speaking and he helped to push the dollar lower, with a slightly dovish slant to his latest rhetoric. The impact of this JOLTS data has seen the dollar jump back up with yields and Gold has fallen back too. The USD/JPY just just lifted back above 161.50
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