Yahoo Finance U.S. Dollar Slips; Trump Accuses China, Europe of Currency Manipulation
Investing.com - The U.S. dollar slipped on Thursday in Asia. Overnight, U.S. President Donald Trump accused China and Europe of playing a “big currency manipulation game.”
In a tweet, Trump said they have been pumping money into their system and the U.S. should match their efforts “or continue being the dummies who sit back and politely watch as other countries continue to play their games.”
The U.S. dollar index slipped 0.1% to 96.317 by 11:31 PM ET (03:31 GMT). Data showed overnight that the ADP payrolls data showed that the private sector only added 102,000 jobs in June versus the 140,000 that were expected.
The weaker-than-expected data supported the case for the Federal Reserve cutting rates.
Other numbers were also supportive of the central bank easing monetary policy, with factory orders for May down 0.7% and the ISM non-manufacturing index falling to 55.1 in June.
Trading volume is expected to be light today as U.S. financial markets are closed on Thursday for a public holiday.
The focus now shifts to U.S. non-farm payrolls data due on Friday, which economists expect to have risen by 160,000 in June, compared with 75,000 in May.
Meanwhile, the EUR/USD pair rebounded 0.1% to 1.1283. The common currency has been under pressure since IMF Manager Director Christine Lagarde was nominated as the next European Central Bank president.
The AUD/USD pair was up 0.1% to 0.7033.
The USD/CNY pair slipped 0.1% to 6.8704.
The USD/JPY pair was little changed at 107.77.
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