· Dollar edges higher before U.S. jobs report as omicron variant fears ease
The dollar ticked higher on Friday amid a broadly calmer tone in markets as fears over omicron’s impact eased, but currency moves were muted ahead of a key U.S. payrolls report that could clear the path to earlier Federal Reserve interest rate hikes.
The dollar index, edged higher for a third day, rising 0.03% to 96.117. For the week, the dollar is little changed, despite a steep drop on Tuesday. Friday of last week though, the index had plunged 0.70%, the most since May.
Economists in a Reuters poll estimate the United States created 550,000 new jobs last month, continuing a run of strong data.
Money market see high odds that the Fed will raise the target rate by a quarter point at its June meeting.
The dollar slipped 0.09% to 113.10 yen on Friday, but that came after a 0.4% gain overnight.
The euro was little changed at $1.13025, consolidating after its drop to an almost 17-month low at $1.1186 last week.
The risk-sensitive Australian dollar eased 0.12% to $0.7084, a fourth losing session.
Both the European Central Bank and Reserve Bank of Australia have stuck to dovish stances, pushing back against market bets that policymakers will be forced to bow to inflationary pressures.
Reference: CNBC
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