Dollar holds steady after larger-than-expected rise in May payrolls

The US dollar was relatively unchanged in choppy trading after the release of May’s non-farm payrolls report on Friday. Despite employment surging, so did unemployment. On a more positive note, payrolls in the public and private sector increased by 339,000 in May, smashing predictions. Before the US Labor Department released the data, the dollar was headed for its largest weekly fall since mid-January, following the view that the Federal Reserve will forgo an interest rate hike this month, which would reduce the greenback’s appeal to non-US buyers.