During today’s trading, the US dollar is getting cheaper against the euro, yen and pound sterling.

Calculated ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) fell by 0.1%, the broader WSJ Dollar Index – also by 0.1%.

As of 9:24 Moscow time, $1.0720 was given for the euro, compared with $1.0719 at the close of the previous session.

The U.S. currency against the Japanese local currency fell to 130.64 yen at the same time from 130.88 yen on Friday.

The pound rose to $1.2499 from $1.2488 by 9: 24 Moscow time by 9: 24 Moscow time.

The dollar strengthened on Friday after the publication of statistical data on the U.S. labor market, which confirmed investors in the opinion that the Federal Reserve (Fed) will continue rapid tightening of monetary policy.

According to the report of the Ministry of Labor, the number of jobs in the U.S. economy in May increased by 390 thousand. The data for April were revised for the better: the number of jobs increased by 436 thousand, not 428 thousand, as previously reported. Experts surveyed by Bloomberg, on average, predicted their increase in May by 318 thousand.

Unemployment in the U.S. last month remained at the April level – 3.6%. Analysts on average expected its decline to 3.5%. Hourly wage growth slowed to 5.2% in annualized terms from 5.5% in April.

While the pace of wage increases has slowed somewhat, it remains too high for the Fed to stop tightening policy, said Janus Henderson analyst Matt Peron.

Economists, however, note that several recent statistical reports have pointed to the possibility of a slowdown in U.S. economic growth. For example, the ISM Non-Manufacturing Business Activity Index (ISM Non-Manufacturing) fell to a 15-month low in May, and new home sales in the country fell at the highest rate in nine years.

Because of this, some experts have begun to say that the Fed may have to slow the pace of rate hikes, which will be a deterrent to the dollar, writes The Wall Street Journal.

RBC Global Asset Management analyst Andrzej Skiba notes that he has started selling dollars, believing that the U.S. currency will become cheaper in the near future. At the same time, he intends to resume buying dollars after the correction of the currency, considering fears of recession in the U.S. exaggerated.