
Dollar steady even as yields edge up
NEW YORK (Reuters) – Fx Signals – The US Dollar took a breather on Thursday, a day after being given a boost from seemingly hawkish comments by a top Federal Reserve official, as the market awaited new direction from Friday’s U.S. jobs report.
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The dollar index against major currencies was down 0.03% to 92.249 in the afternoon in New York.
On Wednesday, Fed Vice Chair Richard Clarida said conditions for an interest rate hike could be met in late 2022, setting the stage for a move in early 2023.
“Clarida’s comments are allowing the dollar to stay well supported into the payrolls numbers on Friday,” said ING FX strategists Francesco Pesole and Chris Turner.
The greenback, which gained 0.2% on Wednesday, was traded in a relatively tight range through the day, unmoved by new government reports on jobless claims and the trade deficit that came in close to estimates from economists.
It also shrugged off another up-day in U.S. stocks and movement in the U.S. Treasury market, where the yield on the 10-year note rose as much as 4 basis points and was last at 1.2152%.
“The market has been in a wait-and-see mode until we get past tomorrow’s nonfarm payroll report,” said Ed Moya, senior market analyst at broker OANDA.
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Dollar Down US Dollar Index breather
According to a Reuters survey of economists, nonfarm payrolls likely increased by 880,000 jobs in July, up from 850,000 in June. Economists have warned that the spread of the Delta variant of the coronavirus and mixed readings from labor market indicators make estimates for July troublesome.
The euro was flat at $1.1835.
Bitcoin rose 3% to $40,987.
US Dollar Up Ahead of Friday’s US Payrolls Report
Dollar steady even as yields edge up
Dollar steady even as yields edge up
Dollar Up Latest U.S. Jobs Report
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Dollar steady even as yields edge up
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