By Cornelius Luca
New York, June 1 (BridgeNews) - The dollar opens with minor losses ahead of the release of vital domestic data, which includes the May employment report and the May NAPM manufacturing index. The figures might weigh greatly on how much the Federal Reserve will need to cut interest rates in June. The euro edged higher on profit taking after plunging Thursday, while the dollar fell to a new three-month low of 118.30 yen in Europe.
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Dollar/Swiss franc slipped on profit taking after rallying to a six-month high in the previous session, but just like the euro/dollar, it remained confined in inside ranges. Hurt by light demand for euro/sterling, sterling/dollar fell to a two-day low of 1.4158, while dollar/Canada drilled down to an 11-day low of 1.5323.
All financial markets will take their cues from the U.S. economic statistics. However, euro/yen will likely be the driving engine, after marking a fresh five-and-a-half-month low of 99.85.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 118.63 119.23 -0.60 118.30 119.33
EUR/USD 0.8477 0.8455 0.0022 0.8444 0.8491
EUR/JPY 100.55 100.84 -0.29 99.85 101.14
GBP/USD 1.4174 1.4184 -0.0010 1.4158 1.4210
USD/CHF 1.7942 1.7962 -0.0020 1.7916 1.7990
USD/CAD 1.5328 1.5378 -0.0050 1.5323 1.5382
AUD/USD 0.5092 0.5064 0.0028 0.5039 0.5094
NZD/USD 0.4117 0.4090 0.0027 0.4087 0.4132
SP.1 1251.00 -6.40 1248.00 1256.00
ND.1 1788.00 -15.00 1783.00 1805.00