Dollar in Limbo Before U.S. Payrolls as Traders Seek Clue on Fed
- Nonfarm positions rose 180,000 last month: Bloomberg survey
- Dollar gauge fluctuates by smallest amount in a week
Japan Is at a Reflection Point, Says Rosenstreich
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The dollar’s stuck in limbo, moving the least in a week, as investors await key U.S. labor data to assess whether Federal Reserve policy makers will be able to follow through on plans to raise interest rates in coming months.
The Bloomberg Dollar Spot Index has swung between gains and losses this week as traders anticipate Friday’s release of the government’s monthly labor statistics, which may revive bets on a Fed rate hike by year-end. The U.S. currency barely budged from Wednesday’s closing levels even after the Bank of England cut borrowing costs for the first time since 2009, sending the pound tumbling.