Fedspeak: Federal Reserve member Raphael Bostic expressed concerns about the expiry of federal unemployment benefits and their impact on the economy. Bostic and his colleague Mary Daly will be speaking later in the day.
US investors are also following flooding in New York City, remnants of hurricane Ida and US COVID-19 cases, which continue increasing despite a slowdown. Globally, the disease is retreating.
U.S. jobs miss dents dollar as traders wait on payrolls
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 dollar has also been on the back foot since even before then as doubts about the tapering timeline crept in. The dollar index was steady at 92.497 on Thursday after falling to a four-week low of 92.376 overnight. It has lost about 1.4% since it hit a nine-month high about two weeks ago.
· Yuan eases as markets await non-farm payrolls
The People's Bank of China (PBOC) set the midpoint rate at 6.4594 per dollar prior to the market open, the strongest since June 29 and firmer than the previous fix of 6.4680.
· Cryptocurrencies have gained ground, with Bitcoin nearing $50,000 and Ada Cardano hitting $3. Ethereum, which was the first of the top digital assets to move this time – buoyued by the NFT craze – is consolidating its gains above $3,700.
Reference: FXStreet, Reuters
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