Dollar soars ahead of non-farm payrolls data release

The dollar rose slightly today, Thursday, but it was not far from its lowest level in two months, which it reached recently, as traders assess the impact of non-farm payroll data, which is announced during the weekend, on the monetary policy of the US Central Bank.

According to “Reuters”, the US non-farm payroll data report on Friday follows disappointing data for the service sector from the Institute for Supply Management and private sector employment data on Wednesday, as well as a decline in US manufacturing activity in March.

The set of weak economic data added to fears of an imminent recession for the largest global economy, which curbed risk appetite and prompted dealers to search for some safe haven assets.

The dollar index rose 0.1 percent to 101.95, after falling to a two-month low of 101.40 in the previous session.

The Japanese yen also received some support from safe-haven bets, and recorded in its latest trading, an increase of 0.2 percent, to 131.01 against the dollar.

The risk-sensitive Australian and New Zealand dollars fell 0.29 and 0.27 percent, respectively.

The pound sterling also fell 0.1 percent to 1.2450 dollars, while the euro fell 0.2 percent to 1.0886 dollars.