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Dollar Treads Water Vs Euro, Yen

Dollar Treads Water Vs  Euro, Yen Dollar Treads Water Vs  Euro, Yen

The dollar trod water against the yen and euro on Friday as investors were wary ahead of the US non-farm payrolls report, which could influence chances of the Federal Reserve raising interest rates before year-end. Economists expect US nonfarm payrolls data, due later in the global day, to show that employers added 203,000 jobs in September, according to a Reuters poll. A figure in line or better than forecast would enhance prospects of the Fed tightening monetary policy this year or early in 2016. The other focal point is whether US wages rose enough to offset disinflationary pressures. Despite weakness in China, the US economy and labour market have stood on more solid ground, keeping alive prospects of the Fed raising rates this year after it opted not to do so in September. The dollar was steady at 120.02 yen, confined to a tight 120.60-119.245 range so far this week. The euro was flat at $1.1185, having drifted down from this week’s peak of $1.1282 struck on Tuesday. The common currency was poised to lose a modest 0.2% this week.

Financialtribune.com