US: Unit Labor Costs rise 10.8% in Q2 vs. 9.5% expected

• Unit Labor Costs rose at a stronger pace than expected in Q2.
• US Dollar Index stays in the negative territory but holds above 106.00.

The data published by the US Bureau of Labor Statistics showed on Tuesday that Unit Labor Costs rose by 10.8% in the second quarter. This reading followed the 12.7% increase recorded in the first quarter and came in higher than the market expectation of 9.5%.

Further details of the publication revealed that the Nonfarm Productivity decreased 4.6% in the same period, slightly better than analysts' forecast for a decline of 4.7%. 

Market reaction

The greenback lost some strength after this data and the US Dollar Index was last seen losing 0.28% on a daily basis at 106.08.