Home Economy U.S. jobs miss dents dollar as traders wait on payrolls

U.S. jobs miss dents dollar as traders wait on payrolls

1

SINGAPORE (Reuters) – The dollar loitered around multi-week lows on Thursday, pressured by softer-than-expected U.S. labour data as traders awaited a fuller jobs readout, which is expected to guide the timing of Federal Reserve’s pullback in bond buying.

FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

The greenback was also dented overnight by a rising euro, which climbed to a one-month high of $1.1857 after a survey showed strong European manufacturing growth coupled with inflationary pressure from supply-chain snarls.

The euro also touched its highest in a month at 130.44 yen overnight and made a six-week peak of 86.02 pence. The Australian and New Zealand dollars struck more than two-week highs after the U.S. private payrolls data showed 374,000 hirings last month against a forecast for 613,000.

“The big miss was too big…

Click here for full article…www.reuters.com