A gauge of the dollar steadied after unexpectedly strong US job figures overnight lifted it off a three-year low.
The Bloomberg Dollar Spot Index was little changed on Wednesday, having slipped as much as 0.4% to its weakest since 2022 during the previous session. The gauge then pared losses and Treasury yields rose after May JOLTs job openings came in above estimates.
While trading in G-10 currencies is largely devoid of direction ahead of non-farm payrolls data due later this week, "we see nascent signs of the dollar staging a mini rebound should data continue to surprise to the upside," said Fiona Lim, a senior FX strategist at Maybank. "The JOLTs data probably helped support the dollar ahead of the other key labor metrics due for the rest of the week.".
The ADP employment report is due on July 2, while non-farm payrolls figures will be published on July 3.
Australia's dollar was one of the biggest decliners among major currencies after weaker-than-expected retail sales figures prompted traders to cement expectations for a third interest rate cut as soon as next week. AUD/USD fell as much as 0.3% to 0.6565.
NZD/USD gained as much as 0.1% to 0.6106.
EUR/USD slipped 0.1% to 1.1798, pulling off the previous day's near four-year high. Options traders are betting the rally isn't over yet, and the surging currency has featured prominently at the European Central Bank's retreat in Portugal this week. Vice President Luis de Guindos warned that an advance past $1.20 would be problematic.
USD/CHF was little changed at 0.7910.
China's yuan retreated from near an eight-month high after the PBOC set a slightly weaker reference rate.
Source: Bloomberg
The US dollar is moving steadily upward, still on track for a slight increase for the week. The market is awaiting the release of the delayed US inflation figures, and most market participants believe...
Dollar picks up slightly with CPI release in focus The U.S. dollar drifted higher Thursday as traders weighed up fresh trade threats between Washington and Beijing, ahead of the release of key inflat...
US Dollar (USD) consolidates within a narrow range as markets await September CPI and October PMI, while the ongoing US government shutdown adds pressure on growth and the Fed hints at year-end rate c...
The U.S. dollar rose slightly higher Tuesday, stabilizing after recent banking-induced losses as the prospect of upcoming trade talks between the U.S. and China helped ease some concerns over a renewe...
The U.S. dollar edged higher Monday, rebounding after last week's losses although sentiment remains wary ahead of key inflation data and amid worries over the health of the U.S. regional banking secto...
The Hang Seng rose 192 points, or 0.7%, to finish at 26,160 on Friday, extending gains from the prior session. The increase came after Shanghai shares hit a 10-year peak, on strong inflows and China's pledge at the conclusion of a plenum to boost...
Oil steadies but supply fear keeps it on track for weekly gain Oil prices were little changed on Friday, stabilising after the previous day's surge and remaining on track for a weekly gain as fresh U.S. sanctions on Russia's two biggest oil...
Silver slipped to around $48.6 per ounce on Friday and was on track to lose over 6% for the week, as profit-taking swept through the market amid concerns that the metal may have entered overvalued territory. The recent surge was driven by strong...
According to a poll by Reuters, 115 of 117 economists have predicted that the Federal Reserve (Fed) will reduce interest rates by 25 basis points...
The Fed will meet on October 28-29, 2025. This meeting is crucial because the market still considers the possibility of an interest rate cut, but...
The U.S. government shut down much of its operations on October 1 after Republicans and Democrats failed to reach an agreement to extend funding...
U.S. Trade Representative Jamieson Greer said he and Treasury Secretary Scott Bessent will head to Malaysia on Wednesday to meet with Chinese...