Dollar rises, investor focus back on Fed taper timeline
The dollar recorded gains on Friday morning in Asia following a selloff due to the United States’ jobs report released last week. Investors are still betting on the timeline of the U.S. Federal’s asset tapering.
The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.05% higher to 92.530 by 10:53 PM ET (2:53 AM GMT).
The USD/JPY pair gained 0.07% to 109.78.
The AUD/USD pair climbed 0.08% to 0.7372, and the NZD/USD pair jumped 0.18% to 0.7114.
The USD/CNY pair increased 0.01% to 6.4523, and the GBP/USD pair rose 0.08% to 1.3846.
The dollar started touching its lowest level since August 3 during the previous trading week. This came after the release of a weaker-than-expected jobs report that diminished hopes on the start of the Fed’s asset tapering.
However, Governor Michelle Bowman reiterated that the latest report would not necessarily discourage the central bank and it might still push through with the process later this year.