US Session – Dollar slides as focus turns to nonfarm payrolls
December 3, 2013 9:15 pm
The US dollar traded lower versus most of its major counterparts on Tuesday due to a lack of tier one US economic data and caution by market participants ahead of big risk events like Friday’s nonfarm payrolls.
The dollar eased lower against the yen on profit-taking from a month-long rally in the pair. The greenback ended the US session down 0.27% at 102.32.
Earlier in the day the dollar hit a fresh 6-month high of 103.36 yen, lifted by ISM manufacturing PMI data on Monday.
A strong jobs report on Friday could push the dollar higher.
The euro gained 0.13% in the US session to 1.3591. The single currency was buoyed today by some upbeat jobs data from Spain as well as by expectations the European Central Bank would not cut interest rates at its policy meeting this week after above-forecast Euro zone inflation data last Friday.
The euro however retreated from a five-year high of against the yen to 140.01 yen, down 0.13%in the US session to 139.10.
The pound erased gains made against the dollar after UK construction PMI rose to the highest since August of 2007. Sterling eased 0.06% in the US session to end at 1.6400.
The US dollar traded lower versus most of its major counterparts on Tuesday due to a lack of tier one US economic data and caution by market participants ahead of big risk events like Friday’s nonfarm payrolls.
The dollar eased lower against the yen on profit-taking from a month-long rally in the pair. The greenback ended the US session down 0.27% at 102.32.
Earlier in the day the dollar hit a fresh 6-month high of 103.36 yen, lifted by ISM manufacturing PMI data on Monday.
A strong jobs report on Friday could push the dollar higher.
The euro gained 0.13% in the US session to 1.3591. The single currency was buoyed today by some upbeat jobs data from Spain as well as by expectations the European Central Bank would not cut interest rates at its policy meeting this week after above-forecast Euro zone inflation data last Friday.
The euro however retreated from a five-year high of against the yen to 140.01 yen, down 0.13%in the US session to 139.10.
The pound erased gains made against the dollar after UK construction PMI rose to the highest since August of 2007. Sterling eased 0.06% in the US session to end at 1.6400.
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