U.S. employers probably lost 50,000 jobs in May after a drop of 20,000
in the prior month.
``Disappointing payrolls data have the potential to knock the dollar
lower,'' said Akio Shimizu, chief manager of foreign exchange trading
at Mitsubishi UFJ Trust & Banking Corp. in Tokyo, a unit of Japan's
second-largest bank. ``A combination of doubts about the economy and a
lack of improvement in credit markets are bad for the dollar.''
Above the session
high on $1.5610 the rise may extend to $1.5680 and $1.5760. Support is around
$1.5530 (38.2% of $1.5820 - $1.5360 decline), then – at $1.5460 (23.6%). Key support
comes at yesterday’s lows on $1.5360.