Dollar rises but hovers near two-week lows

31.08.2021 - Petr Mazaylo
Dollar rises but hovers near two-week lows

The dollar climbed on Tuesday morning in Asia but stayed close to two-week lows. Market moves were fairly small as August comes to a close and investors anticipate the United States job data, including the non-farm payrolls this week.

The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.01% to 92.662 by 10:28 PM ET (2:28 AM GMT).

The USD/JPY pair was down 0.05% to 109.87.

The AUD/USD pair declined 0.01% to 0.7293 after touching a peak of $0.7317 last Friday.

The NZD/USD pair gained 0.38% to 0.7025, while the USD/CNY pair jumped 0.04% to 6.4684.

The GBP/USD pair increased 0.05% to 1.3765.

The dollar recovered some of its losses as U.S. Federal Reserve Chairman Jerome Powell hinted on a possible start of asset tapering this year, albeit no specific timeframe.

Meanwhile, the jobs report will be out on Friday and a favorable reading will strengthen anticipations for more details from Fed on September. However, lower-than-expected figures could delay the announcement to November, and a formal decision may be given a month later.

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