Dollar slips ahead of US non-farm payrolls report ‎

The US dollar fell on Friday, ahead of the release of the important report on non-farm payrolls in the United States later on Friday, which may serve as a test of the strength of the American economic recovery, but with the commitment of the Federal Reserve (the US central bank) to fight inflation, Strategists believe that any decline in the value of the currency will not last.

According to “Reuters”, the euro and the pound sterling compensated for losses last night, and rose for the first time in three sessions, while the Japanese yen returned to rise after another breach of the main 145 level against the dollar.

A number of Federal Reserve officials supported the view that the central bank has not yet finished raising interest rates as it seeks to curb inflation, and interest rates are expected to rise further.

Euro rose in the latest trading today, 0.1 percent to 0.9801 percent against the dollar

The British pound rose 0.3 percent to $1.1192, after declining 1.4 percent last night. It had risen to as high as 1.1493 against the dollar earlier in the week after the British government backed down from a scheduled cut for the highest income tax bracket.

The US dollar index fell 0.1 percent to 112.11 points, after rising by about one percent last night, and is heading towards a decline of 0.16 percent this week.

All eyes now turn to the US Non-Farm Payrolls report due on Friday at 1230 GMT. Economists expect 250 thousand jobs to be added last month, compared to 315,000 in August

The yen rose in the last trading on Friday 0.2% to 144.91 against the dollar, to approach its lowest level in 24 years at 145.90, which was recorded last month, which prompted the Japanese authorities to intervene to support the fragile currency.