Forex | Forex | U.S. unemployment hits highest level since 1983; Dollar moving nervously (04/09/2009 12:47:00)

U.S. unemployment hits highest level since 1983; Dollar moving nervously

FXstreet.com (Barcelona) - U.S. non farm payrolls have declined by 216,000 in August, a softer decline then the 276,000 revised drop seen in July, although the Unemployment rate has soared to 9.7%, the highest since 1983. Dollar is moving nervously against majors immediately after the release of unemployment figures.

GBP/USD the Pound has spiked up from 1.6365 to a fresh intra-day high at 1.6385, to return afterwards to pre-nfp levels, while the Euro moved nervously from 1.4260 to 1.4240 to hit 1.4280 later.

USD/JPY dipped from 92.90 o 92.25 and soared later to levals above 93.00, hing intra-day high at 93.25.

According to Nick Nasad, currency analyst at CMS Forex, ma4rkets are hesitant due to mixed signs given by payrolls data: "The EUR/USD is showing some very muted reaction, and indecision following the release. Traders are seeing the dual factors of a better headline print but weaker unemployment rate and so we dont have an overriding direction to our move. If we look at the USD/JPY we see a big gains in favor of the Greenback, a sign of better risk appetite."

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