- Unit labor costs rose at a faster-than-expected rate in the second quarter.
- The US Dollar Index remains in negative territory but remains above 106.00.
Data released by the United States Bureau of Labor Statistics showed on Tuesday that unit labor costs rose 10.8% in the second quarter. This reading followed the 12.7% increase recorded in the first quarter and exceeded market expectations of 9.5%.
Other details in the release revealed that non-farm productivity declined 4.6% in the same period, modestly better than analysts’ forecast for a 4.7% decline.
market reaction
The USD lost some strength after this data and the US Dollar Index lost 0.28% on the day, trading at 106.08.
Source: Fx Street
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