Dollar hunkers down before key U.S. jobs report

By Stanley White



a close up of a book: A U.S. Dollar banknote


© Reuters/Dado Ruvic
A U.S. Dollar banknote

TOKYO (Reuters) – The dollar steadied against major currencies on Friday as traders awaited key U.S. jobs data that may cast doubt on the strength of economic recovery from the coronavirus outbreak.

Loading...

Load Error

The Australian dollar clawed back early losses and stabilised after the country’s retail sales accelerated in July, easing concern about the economy.

The greenback has managed to halt its recent slide, but analysts warn sentiment remains weak due to concern about the strength of U.S. economic growth and speculation that the Federal Reserve will keep rates low for a very long time.

“The dollar has rebounded against the euro and could continue to rise a little further,” said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.

“However, my main scenario is for the dollar to fall, for stocks to rise and for yields

Read More

FOREX-Dollar hunkers down before key U.S. jobs report

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

* Analysts are bearish on U.S. dollar

* Aussie supported by retail sales data

* Traders await non-farm payrolls

By Stanley White

TOKYO, Sept 4 (Reuters) – The dollar steadied against major currencies on Friday as traders awaited key U.S. jobs data that may cast doubt on the strength of economic recovery from the coronavirus outbreak.

The Australian dollar clawed back early losses and stabilised after the country’s retail sales accelerated in July, easing concern about the economy.

The greenback has managed to halt its recent slide, but analysts warn sentiment remains weak due to concern about the strength of U.S. economic growth and speculation that the Federal Reserve will keep rates low for a very long time.

“The dollar has rebounded against the euro and could continue to rise a little further,” said Junichi Ishikawa, senior foreign exchange strategist at IG

Read More