During today’s trading, the dollar exchange rate against major world currencies is generally stable after a sharp decline the day before, caused by uncertainty about the further plans of the Federal Reserve System (FRS).

The index calculated by ICE, which shows the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is down 0.06% in morning trading. On Thursday, it was down nearly 1%.

Market participants have little doubt that the Fed will raise the rate by 50 basis points in June and July, but are guessing about the future prospects. Earlier it was expected that the course of monetary tightening will continue, but recently fears of a possible recession in the United States have been growing – and if macroeconomic indicators deteriorate to confirm such fears, the central bank may need to adjust its plans.

An important report for assessing the state of the U.S. economy will be released by the Labor Department on Friday. Analysts surveyed by Trading Economics expect it to show a decline in the U.S. unemployment rate in May to 3.5% from April’s 3.6%, and to reflect a 325,000 increase in the number of jobs after a 428,000 rise in April.

Data published yesterday by industry organization ADP Employer showed a 128 thousand increase in the number of jobs in the U.S. in May – the lowest pace in two years.

Meanwhile, on the eve of the Deputy Chairman of the Federal Reserve Lail Brainard said that she considers it unlikely to suspend the current cycle of interest rate hikes. Fed policy depends on incoming data, she emphasized, but the most likely development of the situation will be the continuation of rate hikes until inflation begins to approach the 2% target.

As of 9:01 Moscow time, the euro-dollar exchange rate was up 0.06% at $1.0754 compared to $1.0747 at Thursday’s market close.

Paired with the Japanese yen, the dollar was worth 129.85 yen at the same time against 129.84 yen at the close of trading the previous day.

The value of the British pound to the dollar by 9:01 Moscow time decreased by 0.03% – to $1.2574 from $1.2578.