Forex News: U.S. Dollar Falls After Weak Job Openings Data

U.S. Dollar Falls After Weak Job Openings Data

(RTTNews) - The U.S. dollar weakened against its major counterparts in the New York session on Wednesday, following the release of weak job openings data for July.

Job openings fell to 7.18 million in July from 7.35 million in June. The reading came in below expectations of 7.4 million.

The data increased the chances of a rate cut from the Federal Reserve later this month.

The Labour Department will release nonfarm payrolls data for August on Friday. Economists expect an increase of 75,000 jobs in August, following an addition of 73,000 jobs in July.

The greenback dropped to 1.1682 against the euro and 0.8027 against the franc, from its early 1-week highs of 1.1608 and 0.8068, respectively. The next possible support for the currency is seen around 1.18 against the euro and 0.77 against the franc.

The greenback fell to 147.88 against the yen and 1.3458 against the pound, from its early multi-week highs of 149.13 and 1.3332, respectively. The currency is seen finding support around 140.00 against the yen and 1.40 against the pound.

The greenback retreated to 1.3783 against the loonie, 0.6554 against the aussie and 0.5883 against the kiwi. The currency may find support around 1.36 against the loonie, 0.68 against the aussie and 0.60 against the kiwi.

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