NEW YORK/MILAN (Reuters) – The dollar slipped in mixed trading after Fed Chair Jerome Powell sounded dovish, suggesting the U.S. central bank was likely to begin its easing cycle later this year.
Powell’s comments contrast with data showing that job openings in the United States increased in May, after a sharp decline in the previous two months. According to the Jolts (Job Openings and Labor Turnover Survey) report, job openings rose by 221,000 to 8.140 million on the last day of May.
At around 6:00 p.m., the dollar index was down 0.1% at 105.80.
Against the yen, the greenback fell slightly to 161.53. In today’s session, it reached 161.745 per dollar, its highest level in nearly 38 years, driven mainly by the wide interest rate gap between the United States and Japan.
The euro was little changed against the dollar at $1.0736, showing little reaction to comments from ECB President Christine Lagarde, who attended the same monetary policy forum with Powell. She said the eurozone was “way along” on its path to disinflation, but “question marks” remained over the economic growth outlook.
Among other currencies, the pound is up 0.2% against the dollar at $1.2671, but is not far from the low in about two months reached last week.
(Translated by Chiara Scarciglia, edited by Francesca Piscioneri)
