Dollar falls, investors await U.S. employment data
The dollar fell close to its previous lows on Wednesday morning in Asia. Investors brace for the United States’ employment data that could suggest Federal Reserves’ timetable for interest rate hikes.
The U.S. Dollar Index that measures the greenback against other major currencies shed 0.08% to 92.017.
The USD/JPY pair climbed 0.01% to 109.06.
The AUD/USD pair jumped 0.07% to 0.7399, while the NZD/USD pair gained 0.54% to 0.7052.
The USD/CNY pair slid 0.15% to 6.4605, and the GBP/USD pair nudged 0.09% higher to 1.3926.
Investors await July’s ADP non-farm employment change, the Markit composite manufacturing PMI, the services PMI, and the Institute of Supply Management (ISM) non-manufacturing PMI. They are all set to be released today.
The latest U.S. jobs report, including non-farm payrolls will come out on Friday. All these data will provide hints on Fed’s timeline for interest rate hikes and asset tapering.