The dollar was firm on Friday but traders held off on making big bets ahead of t...
TOKYO - The dollar was firm on Friday but traders held off on making big bets ahead of the closely-watched U.S. non-farm jobs report that could influence the course of near-term Federal Reserve policy.
The index had fallen to a three-month trough of 95.843 last week as U.S. Treasury yield slumped to 2-1/2-year lows on expectations the Fed would cut interest rates this year, starting as early as this month. “The dollar has been closely moving in correlation with U.S. yields and today will be no exception, with the bond market’s reaction to the jobs report likely determining the direction of currencies,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.The dollar was flat at 107.850 yen
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