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Why the May NFP was bad: Hardy
Just 138,000 new positions were created in may, while the unemployment rate declined to 4.3 percent, according to the latest data from the Bureau of Labor Statistics. "This is a very bad report", says John Hardy, head of fx strategies at Saxo Bank. Although the report was very dollar negative, Hardy still believes that the Fed will hike rates at it's June meeting.
01:39 minutes
Tags: fed, interest rates, john hardy, nfp, saxobank, saxostrats, saxotradergo, tradingfloor.com, yellen
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