Dollar Rebound Hinges on Jobs Report After Trade Tensions Ease

Dollar bulls appeared to latch onto calming global trade tensions Thursday. The next leg up in the greenback could come from the March U.S. payroll report, which is expected to show the lowest jobless rate in 17 years.

Strength in the wage and employment figures could boost the dollar by increasing the chances that the Federal Reserve hikes rates four times this year, according to Erik Nelson, a currency strategist at Wells Fargo. The market is currently bracing for three rate increases this year.