US dollar weakens after wage inflation fails to hit forecast

PATIENCE: The greenback surged after the report was released, but it returned to pre-data levels, which an analyst said reinforced the Fed’s moderate approach

Taipei Times
Date: Feb 03, 2019
By: Staff writer, with CNA and Reuters

The New Taiwan dollar on Friday fell against the US dollar, shedding NT$0.005 to close at NT$30.745.

However, that was a 0.3 percent gain from a close of NT$30.825 on Jan. 25.

The greenback opened at NT$30.750, moving between NT$30.725 and NT$30.775 before the close. Turnover totaled US$565 million during the trading session.

Elsewhere on Friday, the US dollar slipped after the US nonfarm payrolls report for last month showed very little wage inflation, affirming the US Federal Reserve’s patient stance on further interest rate increases.    [FULL  STORY]

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