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Dollar holds its ground before the release of NFP

10 Jan,2025
Dollar holds its ground before the release of NFP

The dollar spiked on Friday, maintaining the latest advances before the announce of the most anticipated Non-Farm Payroll, on the other hand the sterling is still under pressure.

The dollar index that gauges the greenback versus its major pairs ticked up by 0.1% to 109.040 poised for hitting weekly gains at 0.3%.

This will mark the sixth weekly gain in a raw, Its longest gain since a span of 11 weeks.

The dollar hovered near its highest levels since November 2022, maintaining recent gains as the US resumed trading after a holiday honoring former President Jimmy Carter.

All attention is on December's nonfarm payrolls data, set to be released later in the, as traders sought further insights into the US economy and the interest rate trajectory.

The NFP figures are predicted to reveal the addition of 154,000 jobs in December, following a gain of 227,000 in November, with the unemployment rate remaining steady at 4.2%.

EURUSD advanced by 1.0303 supported by the French Industrial Production figures that ticked up by 0.2% in November.

GBP/USD dipped by 0.2% to 1.2285, with the pound on set to drop 1% post touching the lowest level in 14 months, with the ongoing worries over the financial situation in Britain.

USD/JPY slumped by 0.1% to 157.85, with the yen supported by better than anticipated household spending figures.

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