Abstract：The dollar index, which measures the greenback against a basket of six rivals, was steady at 94.327 after rallying 0.51% overnight. That lifted it into the positive for the week, adding 0.20%.
Dollar in driver's seat as payrolls loom; sterling staggers.
The dollar was on course for a second straight week of gains against major peers on Friday, ahead of a key U.S. jobs report that could sway the timing of Federal Reserve interest rate increases.
The dollar index, which measures the greenback against a basket of six rivals, was steady at 94.327 after rallying 0.51% overnight. That lifted it into the positive for the week, adding 0.20%.
Also on Wednesday, Fed Chair Jerome Powell said he was in no rush to hike borrowing costs, even as the Federal Open Market Committee announced a $15 billion monthly tapering of its $120 billion in monthly asset purchases.
The Fed has set a labour market recovery as a condition for rates lift-off. U.S. non-farm payrolls due later on Friday are forecast by economists to show a 450,000 surge in jobs in October, following a 194,000 rise in the prior month.
“The FOMC delivered a ‘dovish taper,’ but the USD is still better positioned than most,” Westpac strategists wrote in a client note.
“Payrolls this week should be at least as strong as consensus given signs that recovery momentum is accelerating again,” making dips into the mid-93s a buying opportunity for the dollar index, they said.https://t.me/wikifxfurom