Forex – Dollar Pushes Higher With Eyes on U.S. Jobs Data

© Reuters. Greenback climbs against other majors ahead of U.S. data – The U.S. dollar pushed higher against other major currencies on Friday, as investors awaited 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 support.

The greenback remained supported 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.

Market participants were looking ahead to the due later Friday, for further indications on the strength of the job market.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.28% at 88.73 by 05:15 a.m. ET (09:15 GMT).

The euro and the pound were lower, with down 0.24% at 1.2484 and with sliding 0.37% to 1.4215.

Research group Markit reported on Friday that its UK construction purchasing managers index fell to in January from 52.2 the previous month, compared to expectations for a downtick to only 52.0.

The yen and the Swiss franc were also weaker, with gaining 0.43% at 109.88 and with adding 0.24% to 0.9288.

Elsewhere, the Australian and New Zealand dollars remained lower, with declining 0.68% at 0.7987 and with retreating 0.59% to 0.7353.

Meanwhile, gained 0.30% to trade at 1.2303.

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