US dollar near its lowest levels in 3 weeks

The dollar hovered near its lowest levels in 3 weeks, on Friday, ahead of the release of US jobs data that is likely to affect interest rate expectations, while the pound sterling remained stable.

The pound sterling reached $1.27575 in recent transactions, and saw little change in early trading and was not far from the highest level in 3 weeks at $1.27765, which it touched on Wednesday.

It gained 0.9% during the week, in its best weekly performance since mid-May, and the major currency remains the strongest performer against the dollar this year, with gains of 1.2%, according to Reuters.

There was little change in the euro, settling at $1.0816, with traders reluctant to make big bets while France prepares for the second round elections next Sunday.

The single currency, which has been under pressure since early French elections were called in June, rose nearly 1% during the week on track for its strongest weekly performance this year.