The dollar fell from its highest level in four weeks against its major counterparts today, Friday, as investors await the jobs report, which may affect the course of the movement of US interest rates.
And the pound sterling recorded a slight increase after it compensated for the losses it suffered in the wake of the Bank of England (central) decision to raise interest by a quarter of a percentage point yesterday, Thursday.
The yen hovered near the average of its trading range this week, at a time when investors are trying to gauge the Bank of Japan’s (central) acceptance of higher yields, following a sudden change in the bank’s policy last week.
Meanwhile, the risk-sensitive Australian dollar rose as Chinese stock markets and US stock futures rebounded.
The dollar index, which measures the performance of the US currency against six major currencies, fell 0.07 percent to 102.38 in early Asian trading.
On Thursday, the index recorded its highest level since July 7 at 102.84, but later lost momentum with the monthly non-farm payroll report due out on Friday.
But the dollar rose to 142.64 yen, supported by an increase in long-term US Treasury yields to the highest level in about nine months at 4.198 percent last night.
The British pound rose 0.17 percent to $1.27305, after falling to $1.2620 on Thursday for the first time since June 30 after the Bank of England’s decision, despite its warning that interest rates are likely to remain high for a while.
The euro rose 0.06 percent to $1.09585.
The Australian dollar rose 0.5 percent to $ 0.65815, continuing the recovery after hitting a two-month low on Thursday.
2023-08-04 06:08:12
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