Dollar becomes broadly weaker against its major rivals upon mixed economic sentiment

The dollar has been dominating the market after the prudential election on 8th November 2016.The ongoing economic performance and positive statement from the president of USA gave the dollar a strong bullish momentum in the market. However, on last Friday the dollar become broadly weaker against its all major rivals in the forex market upon the release of the major economic news. On last Friday the dollar closed at 1.0667 against its major rivals EURO in the forex market. The sharp decline of the U.S dollar has been triggered by the poor performance economic performance in the last week. According to the labor Department, there has been a sharp fall in the U.S wages in the month of November and the Non-farm payroll data came negative then the expectation. The forecasted job lot opening was 180k whereas the actual data came as 178 k which also turned the strength of the dollar in the global market.

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