Greenback gets off recent peaks as traders await US jobs data
On Tuesday, the major US currency took a breather, as market participants waited to see if American employment data later this week would back the Fed’s recent hawkish messages.
The dollar index, normally tracking the US dollar against six crucial counterparts, traded at 95.549, which is below last session's peak of 95.834, the greatest reading since August 12.
The evergreen buck sagged 0.1% to 101.78 yen, thus drifting away from Monday's peak of 102.39, while the common currency also tumbled 0.1% lower to 113.87 yen.
The employment report is supposed to show a leap of 180,000 jobs in August, in accordance with the median estimate of 89 economists surveyed by Reuters, which is below the better-than-expected 255,000 additions in July as well as 292,000 revenues in June.
American economic data on Monday disclosed that consumer spending tacked on for a fourth straight month, thus pointing to a pickup in growth, which could pave the way for the Fed to increase interest rates later this year.