Asian session review: the dollar declined slightly against the major currencies

During today's Asian trading, the US dollar fell against the pound, and was almost unchanged against the euro and the yen.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.07%.

The market's focus this week is on US unemployment data for the current month, which will be released on July 2. The consensus forecast of experts provides for an increase in the number of jobs in the United States in June by 683 thousand and a decrease in unemployment to 5.7% from 5.8%.

Data on the labor market are key for the policy of the Federal Reserve System, along with inflation indicators. It is the dynamics of employment that will largely determine when the Fed will begin to curtail the large-scale incentives introduced at the peak of the coronavirus pandemic.

Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, said on Friday that although the US economy is at the beginning of a strong recovery, it still has a long way to go to regain the jobs lost during the coronavirus pandemic. "We are now only at the beginning of what I hope is a very powerful recovery, but we are still in a deep hole," as the number of jobs in the economy is about 7 million less than it was before the pandemic began, he said.