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Forex - Dollar index moderately higher ahead of NFP report

Published 01/09/2017, 07:19
Updated 01/09/2017, 07:22
© Reuters.  Dollar edges higher vs. rivals with U.S. jobs data on tap
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Investing.com - The dollar was moderately higher against other major currencies on Friday, as investors were eyeing the monthly U.S. nonfarm payrolls report for further indications on the strength of the economy after data on Thursday painted a mixed picture.

EUR/USD was little changed at 1.1902.

The greenback weakened after data on Thursday showed that U.S. consumer spending rose slightly less than expected in July and annual inflation increased at its slowest pace since late 2015.

A separate report showed that U.S. pending home sales decreased by 0.8% last month, compared to expectations for a gain of 0.5%.

On a more positive note, the U.S. Labor Department said initial jobless claims rose less than expected last week to 236,000.

The greenback had strengthened broadly after a batch of upbeat U.S. data on Wednesday, including a higher than expected revision to second-quarter economic growth.

Meanwhile, sentiment on the euro was fragile following reports that a growing number of European Central Bank officials are concerned by the recent strength of the currency.

GBP/USD was also steady at 1.2920, as market participants were also eyeing a report on UK manufacturing activity due later in the day.

Elsewhere, USD/JPY edged up 0.12% to trade at 110.11.

Japanese Finance Minister Taro Aso said on Friday that he was cancelling a planned trip to the U.S. for preparatory economic talks due to national security threats posed by North Korea after it fired a missile over Japanese airspace on Tuesday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.09% at 92.67 by 02:20 a.m. ET (06:20 GMT).

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