Dollar drops before U.S. jobs data release
The dollar fell to its lowest rate in almost a month on Friday morning in Asia. Investors are still waiting for the newest United States job report due today that will determine the timeline of the Federal Reserve’s asset tapering.
The U.S. Dollar Index that measures the greenback against other major currencies tallied a crash of 0.04% to 92.188 by 10:32 PM ET (2:32 AM GMT).
The USD/JPY pair declined 0.03% to 109.89, while the AUD/USD pair climbed 0.05% to 0.7402
The NZD/USD pair nudged 0.13% higher to 0.7114, and the USD/CNY pair rose 0.05% to 6.4593.
The GBP/USD pair gained 0.08% to 1.3841.
The non-farm payrolls also set to come out today were estimated from only 375,000 to over a million. Meanwhile, the Commonwealth Bank of Australia predicted that the U.S. had additional 800,000 jobs in August believed to convince the Fed in starting its asset tapering.
However, the recent surge in COVID-19 cases clouded anticipations on taper announcement during the next central bank meeting.