Dollar Heads for Weekly Gain Before U.S. Payrolls; Aussie Slides
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The dollar headed for weekly gains versus all 16 of its major counterparts before a U.S. report that analysts said will show the jobless rate declined last month, adding to signs the economy is gaining momentum.
The Bloomberg U.S. Dollar Index was poised for its first weekly advance in a month on speculation the data bolsters the case for the Federal Reserve to start reducing bond purchases that tend to weaken a currency. Australia’s dollar slid to the weakest in almost three years versus the U.S. currency on bets policy makers will cut interest rates to a record low. The pound strengthened after a gauge of U.K. construction increased.