Federal Reserve Chair Jerome Powell gave little away yesterday at his semi-annual testimony to the House yesterday, leaving the US dollar in limbo ahead of Friday’s US Jobs Report.
A more likely driver of US dollar volatility will be Friday’s monthly US Jobs Report which hit the screens at 13:30 UK. A further 200k new jobs are expected to be announced, sharply lower than last month’s blockbuster 353k, while the unemployment rate is seen steady at 3.7%.The US dollar slipped lower on Chair Powell’s testimony yesterday and remains on the defensive in early European turnover. The yield on the rate-sensitive US 2-year continues to move lower after hitting a recent 4.
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