Dollar Weakened Ahead of Jobs Data Release
MARKETSCOPE: The dollar index edged lower early Thursday, as investors awaited the release of the Nonfarm Payroll report for August.
The euro was up in value at $1.2550, but reports had it there was selling pressure at the $1.2600 level. The European Central Bank on Thursday left interest rates unchanged and sounded more hawkish on inflation. The sterling strengthened at $1.8368. The dollar was at 110.05 yen.
The dollar took hits on Thursday after weak data indicators raised questions about U.S. economic strength. Most analysts expect to see healthy gains in the August Nonfarm Payroll Report, but some rumors circulated among European traders that the numbers might come in weak. The buck could fall if the report disappoints the markets.