Dollar recovers, investors await U.S. jobs data

The dollar recovered on Tuesday morning in Asia, but placed below a one-year high. Investors now brace for the latest United States’ jobs report for hints on the timeline of the Federal Reserve’s asset tapering and interest rate hikes.

The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.17% higher to 93.942 by 10:28 PM ET (2:28 AM GMT).

The USD/JPY pair climbed 0.18% to 111.06.

The AUD/USD pair slid 0.18% to 0.7271 while the NZD/USD pair declined 0.24% to 0.6945.

The USD/CNY pair remained at 6.4467, with Chinese markets closed for a holiday. The GBP/USD pair shed 0.13% to 1.3596.

Investors’ expectations on asset tapering this year and interest rate hikes in 2022 boosted the greenback. Fears on the possible global stagflation to the U.S. debt ceiling debate also contributed to its gains.

Investors now await the U.S. jobs report, including non-farm payrolls due on Friday.