The dollar got a boost from the release of monthly jobs openings stateside while geopolitical tensions re-entered the spotlight ahead of the Wednesday market open in Asia.
U.S. job openings, a labor demand metric, rose by a record 6.2 million in June, exceeding hiring, according to Reuters. Market watchers took note of the data as strength in the labor market is likely to result in higher wage pressures and influence the Federal Reserve’s monetary policy.
“The data keeps the Fed on track for another rate hike later this year, but with wage pressures not yet showing in higher average hourly earning, the market remains skeptical,” National Australia Bank currency strategist Rodrigo Catril said in a note.
The dollar index, which measure the dollar against a basket of rival currencies stood at 93.647 at 6:55 a.m. HK/SIN, above the 93.3 seen for most of the overnight session.
President Donald Trump was also in the news after he warned North Korea it would be “met with fire and fury” if it continued to make threats against the U.S. His comments came on the back of a report from the Washington Post that the hermit state had created a miniaturized nuclear weapon that could fit in its missiles.
Just hours after Trump’s warning, North Korea reportedly said it was “carefully examining” a plan to strike the U.S. Pacific territory of Guam with missiles.
Equities stateside closed lower Tuesday following Trump’s comments on North Korea. The Dow Jones industrial average edged down 0.15 percent, or 33.08 points, to close at 22,085.34, the S&P 500 declined 0.24 percent, or 5.99 points, to end at 2,474.92 and the Nasdaq slid 0.21 percent, or 13.31 points, to finish the session at 6,370.46.