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US Dollar Offered Ahead of Employment Data after US 10-year Yield Set New Low for the Year
The dollar is offered ahead of today's US jobs report, even though expectations are for solid if not spectacular jobs growth of around 185k. The Australian and New Zealand dollars are leading today's move, while the euro approached $1.09, which it has not traded above this week. Sterling neared the lower end of its $1.26-$1.28 trading range yesterday and set a new high for the week today, slightly above $1.2770. Emerging market currencies are mostly firmer as well, with the Turkish lira, South African rand, and a couple central European currencies bucking the move. Gold is consolidating in a narrow range above $2052 ... (full story)