Steady as she goes for the US dollar as we await the NFP report

Author: Justin Low | Category: News

Dollar holds firm as markets turn attention to the US jobs report later due at 1330 GMT

The major currencies bloc snapshot hasn't changed too much compared to two-and-a-half hours ago here:

Dollar still leads the way among the major currencies as the Japanese yen is the laggard. The Chinese yuan is the only one performing better than the dollar after this morning's PBOC fixing - where we saw the strongest fix in the yuan since 2016.

Meanwhile, cable had a rather eventful session in trading today. The sterling was the lead gainer at the end of Asian trading but it quickly dwindled down and hit a low of 1.3524 after breaking below the 100-hour MA. But since then it recovered some losses and is now back to 1.3544.

EUR/USD remains sidelined for the time being. Light USD strength is keeping the pair lower on the day, but not by much. It's been trading between 1.2040-60 in the European session so far.

The AUD and JPY remains on the backfoot for today. The aussie falling after a surprise trade deficit was recorded here for November 2017. Meanwhile, the Japanese yen is continuing yesterday's declines as stocks continued to soar in Asian and European trading today.

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