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Dollar Set For Weekly Loss As Crucial US Jobs Data Looms

Published by: dailynews
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The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months.

The U.S. currency dipped to a one-week low against the yen, weighed down by slumping Treasury yields, after a volatile week when overall soft economic data tempered the outlook for further Fed rate hikes.

However, the greenback held on to gains made against the euro and sterling overnight after policymakers at the respective central banks struck more dovish postures ahead of policy meetings this month.

Read the full story onĀ Reuters here.