China's foreign exchange reserves rose unexpectedly in May even as the yuan weakened on worries over an escalation in Sino-U.S. tensions. The country's foreign exchange reserves - the world's largest - rose $10.233 billion in May to $3.102 trillion, central bank data showed on Sunday.
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The dollar was modestly higher on Friday after data showed the U.S. labor market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week, as uncertainty about the U.S. economy capped gains. The Labor Department's employment report showed the jobless rate fell to 13.3% last month from 14.7% in April, which was a post-World War Two high.
The Brazilian real and Mexican peso have both rebounded strongly in recent weeks, but their rallies are starting to diverge with the peso running out of steam and the real gaining momentum.
The dollar was modestly higher on Friday morning after payrolls data showed the U.S. labor market unexpectedly improved in May, but the currency's gains remained capped by continued uncertainty about the state of the domestic economy. The Labor Department's employment report on Friday showed the jobless rate falling to 13.3% last month from 14.7% in April, a post World War Two high.
Brazil's real surged on Friday through 5.00 per dollar for the first time since March, sealing its biggest weekly rise in nearly 12 years after surprisingly strong U.S. employment data sparked a buying spree in riskier, beaten down assets.
Latin American currencies rallied on
Friday, with a surge in oil prices lifting Mexican and Colombian
pesos, while an unexpected fall in U.S. unemployment rate
brought back hopes of a swift economic ...
The Canadian dollar strengthened
to a three-month high against the greenback on Friday and was on
track to gain more than 2% for the week after data showing a
surprise rebound in domestic and U.S.
Brazil's real surged 3% on Friday through the 5.00 per dollar barrier for the first time since late March, extending its recent rally after surprisingly strong U.S. employment data boosted investor sentiment and appetite for riskier assets. The dollar fell as low as 4.9787 reais, meaning the Brazilian currency is now up around 7% this week, on course for its biggest weekly gain since 2008.
* European rally resumes. * Euro near 3-month peak. * Best weekly gains in 9 yrs for Asia and EM stocks. * U.S. unemployment report in view. * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. By Tom Arnold and Swati Pandey.
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