Forex – Dollar Holds Steady Ahead of NFP Report

© Reuters. Dollar little changed vs. rivals with eyes on U.S. jobs data – The U.S. dollar held steady against other major currencies on Friday, as investors remained cautious ahead of the release of key U.S. employment data due later in the day, while hawkish comments by the Federal Reserve this year continued to lend mild support.

The greenback briefly rebounded after the Fed, at the conclusion of its policy meeting on Wednesday, signaled its confidence about inflation and growth in the U.S.

The Fed said that inflation is , boosting expectations for further interest rate hikes under incoming central bank head Jerome Powell.

The Fed left rates on Wednesday, in widely expected move. The meeting was current Fed chair Janet Yellen’s last.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% at 88.55 by 02:00 a.m. ET (06:00 GMT).

The euro was fractionally lower, with down 0.08% at 1.2400, while sheld steady at 1.4262.

The yen was weaker, with up 0.28% at 109.73, while was little changed at 0.9268.

Elsewhere, the Australian and New Zealand dollars were lower, with down 0.41% at 0.7372 and with shedding 0.31% to 0.7374.

Meanwhile, edged up 0.10% to trade at 1.2278.

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