{"id":1631051,"date":"2022-09-02T11:34:49","date_gmt":"2022-09-02T15:34:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1631051"},"modified":"2022-09-02T11:34:59","modified_gmt":"2022-09-02T15:34:59","slug":"dollar-near-two-decade-high-ahead-of-u-s-jobs-data","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-near-two-decade-high-ahead-of-u-s-jobs-data\/","title":{"rendered":"Dollar near two-decade high ahead of U.S. jobs data"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdollar-near-two-decade-high-ahead-of-u-s-jobs-data%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1631051&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Iain Withers<\/p>\n<p>LONDON (Reuters) \u2013     The dollar was headed for its third weekly gain in a row and was near two-decade highs against other major currencies, as investors focused on U.S. jobs data due later on Friday that could bolster the case for aggressive interest rate hikes.<\/p>\n<p>The U.S. currency has been riding high since Federal Reserve Chair Jerome Powell said at the Jackson Hole symposium in Wyoming last Friday that rates would need to be high \u201cfor some time\u201d to combat inflation.<\/p>\n<p>The dollar index \u2013 which tracks the currency against six counterparts \u2013 leapt to a fresh 20-year high on Thursday of 109.99, bolstered by robust U.S. data showing a fall in unemployment claims.<\/p>\n<p>The index came off the boil in early European trading hours on Friday, slipping 0.2% to 109.43. However, the index is still on track for around a 0.5% weekly gain.<\/p>\n<p>U.S. non-farm payrolls data due at 1230 GMT will be closely watched, analysts said. Economists expect 300,000 jobs were added in August, which would extend a strong run of data. <\/p>\n<p>\u201cWe would have to see clearer signs of an economic downturn in the US with the addition of more cautious comments on the part of the Fed to end the USD rally,\u201d You-Na Park-Heger, currency analyst at Commerzbank, said in a note.<\/p>\n<p>Fed funds futures are pricing about a 75% chance that the Fed hikes rates by 75 bps this month and it has been a week of heavy selling in the U.S. Treasury market.<\/p>\n<p>The moves have supported the dollar\u2019s march on the yen in particular, since Japan\u2019s yields are anchored near zero.<\/p>\n<p>The dollar surged above 140 yen for the first time since 1998 on Thursday, and the yen fell to a fresh trough of 140.43 on the day. It was last broadly flat at 140.275.<\/p>\n<p>Japan\u2019s government will take \u201cappropriate\u201d action as needed, Japanese finance minister Shun Suzuki said on Friday.<\/p>\n<p>The euro retraced some of the previous day\u2019s losses against the dollar and inched back towards parity, up a third of a percent to $0.99780.<\/p>\n<p>The European Central Bank is due to meet next week, with money markets betting on an unprecedented 75 basis point hike.     <\/p>\n<p>Sterling was broadly flat on the day versus the dollar at $1.15520 and remains down around 1.5% this week.<\/p>\n<p> (Reporting by Iain Withers, Additional reporting by Tom Westbrook in Singapore; editing by Philippa Fletcher)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2744327\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8101M-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8101M-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Iain Withers LONDON (Reuters) \u2013 The dollar was headed for its third weekly gain in a row and was near two-decade highs against other major currencies, as investors focused<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1631051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1631051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1631051"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1631051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1631051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1631051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1631051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}