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Dollar steadies as investors watch for U.S. jobs data

November 6, 2015

Via: itCurated
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The dollar stabilized on Friday in Asia, as investors awaited the U.S. jobs report to help them weigh the odds of a Federal Reserve rate increase this year.

Momentum on the U.S. dollar’s rise, which hit multi-month highs against the euro and the yen on Thursday, tapered off on Friday after data showed new applications for unemployment benefits last week logged a bigger-than-expected jump in the U.S.

Non-farm payrolls take on extra significance later in the day, following comments by U.S. Federal Reserve officials that the U.S. central bank may start raising rates at its next policy meeting in December.

As long as the data show that the economy isn’t slowing down, a rate increase is possible, market participants said.