Dollar takes breather as investors await jobs report

08.01.2021 - Petr Mazaylo
Dollar takes breather as investors await jobs report

The dollar index held onto its biggest gain in over two months on Friday as a gain in U.S. yields prompted a sell-off.

The greenback bounced from a three-year low after the dollar index fell almost 7% in 2020 and nearly 0.9% in the new year despite expectations for a U.S. economic package.

Democrats won control of the Senate this week, clearing the way for President-elect Joe Biden to push through more spending.

Traders await U.S. nonfarm payrolls due later on Friday for hints on whether more stimulus is necessary to support the economy. 

The dollar index stood at 89.859 in Asian trade after falling to a near-three-year low of 89.206 on Wednesday.

The euro was flat at $1.22605 after dropping 0.5% on Thursday. The risk-sensitive Aussie was at 77.70 U.S. cents, while the dollar stood at 103.900 against the yen.

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