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Saxo TV / 03 July 2014 at 14:07 GMT

Beecroft on US jobs, the dollar and why Yellen's not for turning

Nick Beecroft
288,000 new jobs were created in the United States in June, comfortably beating expectations. The unemployment rate also dropped by more than expected to 6.1%. The Chairman of Saxo Capital Markets, Nick Beecroft, says he's struggling to find fault in the non-farm payroll numbers. He also dismisses those who say Fed Chairwoman, Janet Yellen, is behind the curve, given the strength of the US economy. "It's far too early to say that", he says.
The Dow Jones index hit 17,000 for the first time after the jobs' news. The dollar was also up against all its major counterparts. Nick says USDJPY will benefit from the strong jobs numbers and relative dollar strength should continue. 

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