Economic news

Dollar eases off as risk sentiment improves

The dollar index .DXY was stable against a basket of its major rivals on Friday before U.S. employment data, after retreating from 16-month peak in the previous session as investors turned their attention to riskier assets.

Photo: Reuters

The dollar index traded at 96.321 .DXY after losing almost 0.9 percent overnight, dragged down by a rally in the British pound.

The popular measure of dollar's strength had climbed to 97.00 on Wednesday, its top since February 2017, supported by optimistic U.S. figures and a corresponding surge in Treasury yields.

The greenback has enjoyed an edge over its counterparts during the week, with the euro hurt by a cautious European economic forecast and dovish comments from Bank of Japan.

All eyes are now on the fresh U.S. jobs report due later on Friday for clues on the further Fed's monetary policy.

Global shares kicked off November with a strong rally after a gloomy October, supported by impressive corporate results and easing tension in U.S.-China trade relationships.


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