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    MORNING BELL: Dollar still dropping after Friday's jobs data

    Greece’s Finance Minister Varoufakis pledged to meet all obligations and make the IMF loan payment due to Thursday. The Greece bailout terms are set to resume on Monday. The euro was up around 0.2% early on Monday, and the sterling continued to add to Friday’s 0.6% gains despite the overall concerns for the upcoming national elections. The UK and most European markets continue to be closed on Monday due to the Easter holidays.

    The Australian dollar finally took a breath after Thursday’s six-year bottom. The Reserve Bank of Australia is meeting on Tuesday for its monthly rate decision, while expectations spike around a rate cut. The RBA statement is due at 04:30 GMT. Also coming up this week is the Bank of Japan’s monetary policy statement early on Wednesday.

    The US dollar has been losing ground after the disappointment of the non-farm payrolls on Friday. The increase in jobs was much lower than expected and the data indicated the fewest added jobs in more than a year. The greenback was down both against the euro and slightly against the Japanese yen. US crude oil on the other hand is recovering a bit from previous losses, reaching a high of $50.32 on Monday.

      

     


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