Dollar steady as investors await US jobs report

The dollar steadied against its major counterparts today as investors awaited a US jobs report to gauge the strength of the economy ahead of the Federal Reserve’s monetary policy meeting, as well as the US presidential election scheduled for next week.

The yen maintained gains it recorded yesterday, Thursday, after the Bank of Japan kept interest rates on hold. The dollar began November under pressure from the yen and the euro.

The dollar index, which measures the US currency against six major currencies, rose 0.03% to 103.91, and the Japanese currency was last stable at 152.02 against the dollar, according to Reuters.

The Bank of Japan kept interest rates at very low levels yesterday, but said that risks associated with the US economy had receded somewhat, indicating that conditions are now favorable for raising interest rates again.

The euro stabilized near a two-week high against the dollar, supported this week by data showing that inflation in the euro zone accelerated more than expected in October. The euro was last down 0.02% at $1.0882. The pound was down 0.06% at $1.2891. Sterling fell to its lowest since mid-August at $1.28445 on Thursday.