Commodity News
HeadLine : Dollar soft, Aussie firm as sentiment recovers before U.S. jobs data
Date : Oct 8 2021
The safe-haven dollar hovered below a one-year high to major peers on Friday amid improved risk sentiment, while traders awaited clues on the pace of Federal Reserve policy normalization from a closely watched monthly payrolls reports. The risk-sensitive Australian dollar held near the three-week high hit overnight, when it surged 0.55% against the greenback. Global equities rallied and bond yields climbed after U.S. Senate leaders moved to avert a U.S. debt default, while a global easing in energy prices tempered simmering stagflation fears. The U.S. Dollar Currency Index, which measures the greenback against a basket of six peers, was little changed at 94.202 after trading in a tight range on Thursday, staying within sight of last week’s high of 94.504, a level not seen since late September 2020. The euro consolidated around $1.1555, after dipping on Wednesday to a 14-month low of $1.1529. The Federal Reserve has said it is likely to begin reducing its monthly bond purchases as soon as November and follow up with interest rate increases potentially next year, as the U.S. central bank’s turn from pandemic crisis policies gains momentum. 

Source: Reuters
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