Dollar climbs, investors await latest U.S. jobs report
The dollar rose in Asian trade on Monday morning ahead of the latest United States’ jobs report. The data could give hints on the tightening of the U.S. monetary policy earlier than Europe and Japan.
The U.S. Dollar Index that measures the greenback against other major currencies jumped 0.12% to 92.362.
The USD/JPY pair climbed 0.10% to 109.84.
The AUD/USD pair shed 0.24% to 0.7387, while the NZD/USD pair slid 0.09% to 0.7046.
The USD/CNY pair nudged 0.06% higher to 6.4646, and the GBP/USD pair tallied a 0.05% crash to 1.3920.
Investors focus on the labor market’s rebound from the COVID-19 and the U.S. jobs report, which will be released today.
The dollar and U.S. yields could rise sharply if jobs exceed a million. A figure below 650,000 may agitate nerves, but the dollar may not, if it benefits from investors’ risk aversion.
Meanwhile, investors cheered a drop to 385,000 in initial unemployment claims submitted during the previous week.