Rising interest rate expected to warm dollar sharply higher

China Construction Bank Shanghai Branch Xu Renjie The U.S. non-farm payrolls data in Friday showed that in May U.S. jobs fell by 345,000, down far below economists ' expectations of 520,000, and the smallest drop since the onset of the global financial crisis last autumn.　　Driven by strong employment data, the market has soared in anticipation of the Fed's interest rate hike, pushing the two-year and 10-year US debt yields to hit a seven-month high in Asia in Monday and prompting investors to back up their short positions. The US dollar index continued to rise sharply in Asia in Monday, with its first 81.00 pass since late May, close to 81.15 and still a large number of short dollar positions in the market to be filled, so the greenback is expected to rise further.　　This week, market participants will also look at auctions of several U.S. Treasuries: the Tuesday 3-year Treasury bond auction, the Wednesday 10-year bond auction and the Thursday 30-year bond auction, which are expected to be further high and the dollar remains strong this week. In Europe, Mr Almunia, the European Commission's Economic and Monetary Affairs Commissioner, said the EU's economy could expand again in the first half of 2010. He said the European Commission estimates that there should be favourable developments in the next few quarters, and that the economy should be able to resume positive growth in the first half of 2010.　　The euro continued to weaken against the dollar in Monday, down 150 basis points to the closing times of the Asian trading session in 1.3840, which is expected to come to a close in the short term and is expected to be dominated by consolidation. In the UK, investors need to further track changes in British politics. The election results show that Britain's ruling Labour party has shown unsatisfactory performance, highlighting the political uncertainty in the UK.　　Sterling/USD continued to fall in Monday, hitting a two-week low, which has fallen for the fourth consecutive trading day and has fallen nearly 5% since the middle of last week, with political unrest depressing the pound/dollar off the seven-month highs above 1.66. Japan, Japan's Cabinet Office in Monday released a survey showed that Japan's service industry in May the index rose for the fifth consecutive month, and rose to a one-year high, as the stock market rose and the government's plan to issue one-time consumer coupons is encouraging.　　Week 1st, the yuan continues to continue the weak trend of the previous two weeks, in the vicinity of the 98.50 trading, in the short term, the yen below the 100.00 integer pass is very likely. The dollar, which has broken 1.0900 from a higher platform of 1.0642 per cent against the Swiss franc, shows that the dollar will rise to a key resistance level of 1.1050 (the previous upward-band peak). If you break 1.1050, you will open up to 1.1357 of the space.　　1.0780 Strong Support Nearby, if the exchange rate fell to this point, investors can boldly intervene. The dollar rose sharply against the Japanese yen in Friday, the biggest in almost 3 months.　　On the graph, Changyang marks a new wave upward, the short-term will challenge 100.00 of the integer pass, if it can easily breakthrough, the medium and long-term goals are 105.80 and 110.20 respectively. Sterling against the dollar has beenOut of the four Lian Yin trend, graphically, the pound against the U.S. dollar is on the rise of the 4th wave of the wave adjustment wave, the previous adjustment wave is close to the key adjustment point near 1.5770, is expected to support the point, the pound will continue to go back to complete the 5th wave of the rise, the target is located in 1.6920.