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The greenback declined giving up its latest gains before the jobless claims

04 Jan,2024
The greenback declined giving up its latest gains before the jobless claims

The dollar slipped from three-week high touched in the earlier session on Thursday as traders assess Fed’s minutes released before the jobless claims and the most anticipated non-farm payroll figures.

The dollar index that gauges the greenback versus its major pairs dipped 0.2% at 102.017, post touching a three-week hight at 102.73 the earlier session.

Officials were concerned about the impact of Fed’s stance on the economy and were certain that inflation was beginning to stabilize, according to the minutes of the policy meeting from December that were made public late on Wednesday.

The focus will now shift to the weekly data on jobless data scheduled to release during the day, in advance of the highly anticipated U.S. nonfarm payrolls report on Friday. This report is expected to provide additional insight into the Fed's potential rate-cutting range.

EUR/USD ticked up by 0.2% at 1.0947, post the release of inflation data in France that came a bit lower than projected, climbing by 0.1% in December and 3.7% annual advance.

GBP/USD added 0.2% to 1.2692, with the pound close to its latest touched three week low at 1.2667.

USD/JPY inched up by 0.3% r to 143.74, with the yen retreating post the purchasing managers index figures disclosed  showed that Japanese economic activity lingered weak.

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