The dollar moved in tight bands today as investors await a major report on U.S. jobs and assess the prospect of the Federal Reserve (U.S. central bank) raising interest rates longer under economic growth expectations.
The U.S. nonfarm jobs report is due later today, with the U.S. economy forecast to add 225 1,000 jobs in June.
The much-followed report follows data released showing a jump in the number of jobs in the private sector last month and an average increase in the number of Americans filing new applications for unemployment benefits last week, indicating that the labour market remains strong.
This sent U.S. Treasury yields soaring as bets grew that the central bank should continue to raise interest rates to rein in inflation, keeping the dollar higher in early Asian trade on Friday.
Against the U.S. currency, the euro fell 0.02% to $1.0890, while the New Zealand dollar rose 0.09% to $0.6163, offsetting some of the previous session’s losses.
