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Dollar Rises as Labor Data Seeks Clues to Fed Policy

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TOKYO – The dollar rose against

major pairs on Friday, but within a narrow range as traders

they awaited clues about the pace of Federal Reserve policy

normalization from a monthly payroll report.

The U.S. dollar currency index, which measures the

dollar against a basket of six pairs, rose 0.1% to 94,278,

keeping in mind last week’s one-year peak of 94,504.

The dollar gained 0.26% to 111.91 yen and touched

111.93, the highest level this month, helped by a higher Treasury

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yields, with the 10-year reference note reaching 1.6010% for the

first time since June 4.

The euro consolidated around $ 1.1550, after

falling to a 14-month low of $ 1.1529 on Wednesday.

The Federal Reserve has said it is likely to start cutting

your monthly voucher purchases from November and follow-up

with potentially increases in interest rates next year, as the U.S.

Central Bank’s Turn of Pandemic Crisis Policies Wins

impulse.

Nonfarm payroll data on Friday is expected to show

continuous improvement of the labor market, with consensus

forecast of 500,000 jobs added in September, although estimates

It ranged from 250,000 to 700,000, a Reuters poll showed.

After the Federal Open Market Committee in September

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meeting, Chairman Jerome Powell said the next payroll report

it does not have to be an “extraordinary, super strong” report to maintain

policy makers on the way to phasing out, but it would have to be

“Reasonably good.”

Powell’s comment “should make markets more tolerant of

surprise to the downside in particular, and the balance of risks

favors positive USD reaction “to employment data, Adam Cole,

RBC Capital Markets’ chief currency strategist, wrote in a

investigation Note.

Meanwhile, the Australian dollar fell 0.22%.

at $ 0.7297, following a 0.55% gain on Thursday. Is before

touched $ 0.7324 for the second day in a row, the strongest level

from September 16.

The Australian has made “a good attempt to break higher”, but

the test will be if it can stay around $ 0.7315 after

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several failed attempts this year, Rodrigo Catril, senior FX

strategist for the National Australia Bank in Sydney, wrote in a

customer note.

The British pound fell 0.1% to $ 1.3600, holding on

most of a 0.26% gain since Thursday when the new Bank of England

Chief Economist Huw Pill said inflation pressures were showing

stickier than initially thought, reinforcing the expectations of a

rate hike in February.

The Canadian dollar changed little at Cdn $ 1.25515

per dollar after strengthening prior to a month-long peak of

C $ 1.2534 due to the increase in oil prices.

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Currency offer prices at 0615 GMT

RIC Description Last US Closing Percentage Change

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Previous change

session

Euro / Dollar $ 1.1547 $ 1.1554 -0.06% -5.49% +1.1560 +1.1542

Dollar / Yen 111.9100 111.6150 + 0.26% + 8.35% +111.9350 +111.7250

Euro / yen

Dollar / Swiss 0.9296 0.9290 + 0.06% + 5.08% +0.9301 +0.9286

Pound sterling / Dollar 1.3601 1.3615 -0.10% -0.44% +1.3622 +1.3598

Dollar / Canadian 1.2553 1.2554 + 0.03% -1.38% +1.2562 +1.2534

Aussie / dollar 0.7299 0.7313 -0.22% -5.14% +0.7324 +0.7295

NZ 0.6930 0.6931 -0.01% -3.50% +0.6948 +0.6927

Dollar / dollar

All the places

Tokyo locations

Spots of europe

Volatilities

BOJ Tokyo Forex Market Information

(Reporting by Kevin Buckland; Editing by Philippa Fletcher)

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