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US dollar hovers near 8-week low as payrolls test loom

From msn.com

The dollar hovered close to an eight-week low on Friday, ahead of a crucial U.S. jobs report that should provide clues on the timing of Federal Reserve interest rate cuts. The euro held on to overnight gains after the European Central Bank reduced rates in a well-telegraphed move, but offered few hints about future easing as lingering inflation clouds the outlook. The U.S. dollar index, which tracks the currency against the euro and five other major rivals, was little changed at 104.13 early in the Asian day, not far from this week's low of 103.99, the first time it had broken below 104 since April 9. For the week, ... (full story)

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  • Category: Fundamental Analysis