ING: US employment data is key to the dollar's performance

Odaily Planet Daily News: Dutch International analyst Turner said in a report that the upcoming US non-farm payrolls report will play an important role in determining whether the recent downward trend of the US dollar will continue further. Federal Reserve Chairman Powell believes that stubborn inflation and a solid labor market mean that interest rates should remain restrictive for now. "Any unexpected downside in the employment report will weaken his position and push the market to price in expectations of a rate cut at the July meeting." He said that unless the employment data is weaker than expected, the US dollar may continue to consolidate before the US holiday on July 4. (Jinshi)