|
The
greenback is on track for a nearly 1% weekly fall against a
basket of major currencies, although it edged up a quarter of a
percent on the day.
The euro and yen are poised for their largest weekly percentage
gains of the year, around 1% up each.
"In short, the energy has gone out of the dollar's first-quarter
rebound, just as it has gone out of the bond sell-off," said Kit
Juckes, head of FX strategy at Societe Generale.
The pause in the dollar's rally follows a solid rebound over the
first quarter after the greenback's softest year since 2017.
However, after a run of strong U.S. data, Thursday figures
showed U.S. unemployment claims unexpectedly rose.
Fed chair Jerome Powell also signalled at an economic forum on
Thursday that the central bank plans to keep monetary policy
super-easy.
The euro fell a quarter of a percent against the dollar on the
day after mixed economic data from Germany, showing a rise in
exports in February but a surprise fall in industrial output in
separate releases.
The Australian and New Zealand dollars were among the currencies
to lose ground and were both down around 0.5% on the day against
the dollar.
Analysts at MUFG said in a note the moves had no clear macro
trigger, but a financial stability report from Australia's
central bank indicating it would refrain from monetary policy
action to tackle growing lending risk may have pressured the
Aussie.
Sterling was also on track for its biggest weekly loss of the
year and was down around a fifth of a percent on the day.
(Reporting by Iain Withers, Additional reporting by Tom
Westbrook in Singapore; editing by Barbara Lewis)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
