The dollar traded near its lowest point in nearly three weeks versus major peers on Wednesday, with investors focused on a key U.S. jobs report due on Friday for clues on when the Federal Reserve might begin paring stimulus.
The dollar index, which measures the greenback against six rivals, edged higher to 92.777 from Tuesday, when it dipped as low as 92.395 for the first time since Aug. 6.
The U.S. currency was about 0.1% stronger at $1.18015 per euro, after touching the weakest since Aug. 5 at $1.1845 in the previous session.
The Aussie was flat at $0.73115 after touching a more-than-two-week high of $0.7341 on Tuesday. It fell as low as $0.71065 on Aug. 20, a level not seen since early November.
New Zealand’s kiwi slipped 0.18% to $0.7035, but remained close to its highest since Aug. 5 of $0.70685, reached the previous day. It dipped to $0.6807 on Aug. 20, also a more-than-nine-month low.
The Fed has made a labour market recovery a condition for tapering.
Barclays is a little more bullish, anticipating 850,000 additional payrolls, and a jobless rate of 5.1%. Kadota forecasts the dollar will gain to 112 yen by year-end for the first time since February 2020.
The dollar rose 0.23% to 110.235 yen on Wednesday, but remained near the middle of the trading range that has prevailed since early July.
Reference: Reuters
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