Dollar Trims Weekly Losses Ahead of Payrolls Data
The dollar rose versus all Group-of-10 currencies as traders trim exposure and await US non-farm payrolls data for fresh insights into the health of the world’s largest economy.
Short-term punters unwind recent dollar shorts, while short-term topside puts are also in demand, two Europe-based traders say.
The Bloomberg Dollar Spot Index rises 0.2% and is down 0.5% on a weekly basis; data later on Friday is likely to show that US hiring moderated further in May, which could weigh on the greenback given higher FX sensitivity to data releases lately.
EUR/USD drops 0.3% to 1.1411, erases Thursday’s advance; it’s up 0.6% this week.
The ECB should take a break from lowering interest rates to give officials a chance to assess recent shocks, particularly from trade, according to Governing Council member Yannis Stournaras.
USD/JPY rises as much as 0.4% to 144.14.
GBP/USD drops 0.3% to 1.3534, USD/SEK up 0.4% at 9.6092.
Source : Bloomberg
