The U.S. dollar has seen considerable volatility over the course of the trading session on Friday as traders digested the closely watched monthly jobs report.
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A report released by the Commerce Department on Friday showed wholesale inventories in the U.S. increased by slightly less than expected in the month of August. The Commerce Department said wholesale inventories climbed by 0.9 percent.
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The dollar rose to seven-week highs versus its rivals on Friday, lifted by hopes for progress on U.S. tax reforms, while cable was under fire on concerns over a possible leadership feud in the British government.
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Yesterday ECB President Draghi signalled that a decision about the fate of ECB monetary policy will be made in October. With Draghi mentioning last month’s meeting, market participants considered this as an admission that a substantive conversation about a shift in policy was held.
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Account of the monetary policy meeting from the European Central Bank is due on Thursday, headlining a busy day for the European economic news.
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