The U.S. dollar edged lower Thursday after weak employment data resulted in a moderation in U.S. Treasury yields, while the euro gained despite the weak economic outlook.
At 03:40 ET (07:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 106.442, just lower than its recent near 11-month high.
Data released Wednesday showed that U.S. private payrolls increased far less than expected in September, suggesting that the country’s labor market was cooling.
EUR/USD rose 0.1% to 1.0509, above this week’s fresh low of 1.0448, helped by the dollar weakness.
USD/JPY dropped 0.1% to 148.99, with the Japanese yen helped by the drop in U.S. yields, after climbing above 150 earlier this week, its weakest since October 2022.
Finance Minister Shunichi Suzuki on Wednesday declined to comment on whether the authorities had intervened to support the yen, and repeated that currency rates must move stably reflecting fundamentals.
Elsewhere, GBP/USD edged higher to 1.2132, steadying from Wednesday’s low of 1.2038, AUD/USD rose 0.3% to 0.6343, while USD/CNY traded largely unchanged at 7.3015.
Source : Investing.com
