The countdown to the US non-farm payrolls release continues
Outside of the aussie and the kiwi, major currencies have shown little poise to really move so far in European morning trade.
Other dollar pairs are more or less flat with EUR/USD trading around 1.1878 and holding within a 12 pips range so far on the day. That pretty much exemplifies the lack of appetite among traders at the moment as we wait on the US non-farm payrolls release.
The dollar had been weakening over the past few sessions in US trading as fears of a softer report may scale back Fed taper expectations later this month.
Those are valid concerns and could stretch the dollar lower ahead of the weekend but on the flip side, a strong report will only serve to rebuff expectations that the Fed will at least look towards formally initiating taper discussions at the next FOMC meeting.
That could help to see yields and dollar recoup some of the downside seen since the ADP employment data on Wednesday.
