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Dollar wavers as traders await U.S. jobs update

Mount Equity Group Tokyo Japan > News > Markets > Dollar wavers as traders await U.S. jobs update

In this photo illustration, US 100 dollar bills seen on an American flag.

Igor Golovniov | SOPA Images | LightRocket | Getty Images

The dollar wobbled toward its first steady week in three on Friday as traders looked to U.S. jobs data later in the day for clues as to how far and fast the Federal Reserve might raise interest rates.

Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar has been pushed around this week by uncertainty about what happens after that.

The dollar rose through the early part of the week on nerves that record high inflation in Europe was a harbinger of sharply higher rates everywhere. But it fell overnight and stocks rallied as mixed U.S. economic data muddied the outlook.

The dollar lost about 0.9% on the euro on Thursday, falling to $1.0750. It fell further to $1.0760 early in an Asia session thinned by holidays in China and Hong Kong. A holiday in Britain is also likely…

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