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2 April, 2016 00:00 00 AM
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Dollar struggles ahead of US jobs report

AFP

AFP, TOKYO: The dollar struggled yesterday as markets focus on US jobs data later in the day, after the Federal Reserve chief threw cold water on hopes for an imminent rate hike. The payrolls report will give a key clue about the state of the world's top economy, with a strong reading likely to reignite hopes that the Fed will lift borrowing costs this year, after a December hike. The greenback has fallen against all its 16 major peers this week as central bank boss Janet
Yellen suggested the global slowdown would delay any more rate moves. "Payrolls will provide the key directional cue for markets, even if it may no longer have direct near-term implications for the Fed," Sue Trinh, head of Asian foreign-exchange strategy at Royal Bank of Canada, told Bloomberg News. In Tokyo, the dollar bought 112.17 yen, down from 112.60 yen in New York Thursday, while the euro fetched $1.1383 and 127.69 yen, compared with $1.1377 and 128.11 yen in US trade.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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