Calm trading will probably continue as both economies lacks important fundamentals.
The dollar will probably remain under pressure as the Fed is predicted to leave the lose monetary policy this month to enhance recovery that started to lose steam. Non-farm payrolls slipped sharply to 54,000 in May, the lowest job creation level in eight months, from the revised 232,000 while unemployment roared to 9.1% from 9.0%.
The recent data from the UK is also providing some clues that growth pace is weakening in the second quarter, where expectations refer that the BoE will keep interest rate and APF quantity unchanged on June 9 to reinvigorate growth.
Yet, more concentration is now the dollar amid rising speculations the Fed may need to even pump more money to help the economy to keep its steady growth pace after downbeat data released in the second quarter. Thus, the pair may move to the downside for the second week, especially as the US lacks important fundamentals this week after a hectic last week.
Originally posted here
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