Dollar dips vs most currencies ahead of US nonfarm payrolls
Timilehin Adejumobi
1 min read
The dollar slipped against some major currencies in thin trading Thursday, as investors consolidated positions and pondered how pivotal U.S. jobs data coming out on a stock trading holiday might impact Federal Reserve policy and unleash a potentially volatile market reaction.
The U.S. stock market is closed on Good Friday and some European countries are shut on Monday as well.
The closely watched U.S. non-farm payrolls report on Friday, when many markets around the world are closed, will follow disappointing manufacturing and services sector data from the Institute for Supply Management (ISM) and private employment figures on Wednesday.
In afternoon trading, the U.S. dollar index, which hit a two-month low this week, thanks in part to a drop in Treasury yields, was down 0.1% at 101.81.
Thursday’s U.S. initial jobless claims report added fuel to the slowing-economy mantra.
The data incorporated revisions to previous numbers after the government updated the model it uses to adjust the series for seasonal fluctuations.
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