Forex – Dollar index edges higher, U.S. data ahead-SapForex24

The dollar edged higher against other major currencies on Thursday, as investors awaited the release of U.S. data due later in the day, although concerns over U.S. politics and global geopolitical tensions limited gains.

EUR/USD fell 0.20% to 1.0620, pulling away from a one-week high of 1.0678 hit overnight.

The greenback initially weakened after U.S. President Donald Trump told the Wall Street Journal that the dollar “is getting too strong” and that he would prefer the Federal Reserve to keep interest rates low.

Markets were also jittery after President Trump said the United States’ relationship with Moscow “may be at an all-time low.”

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Trump’s comments came after he ordered a missile attack on Syria to punish the government’s suspected use of poison gas. Russia condemned the U.S. action.
Elsewhere, GBP/USD edhed up 0.14% to 1.2554.

USD/JPY held steady at 109.05, while USD/CHF added 0.10% to trade at 1.0036.
The Australian and New Zealand dollars were stronger, with AUD/USD up 0.80% at 0.7583 and with NZD/USD climbing 0.50% to 0.7006.

Earlier Thursday, the Australian Bureau of Statistics said the number of employed people increased by 60,900 in March, blowing past expectations for an increase of 20,000.

The number of employed people rose by 2,800 in February, whose figure was revised from a previously estimated decline of 6.400.

The unemployment rate remained unchanged at 5.9% last month, in line with expectations.

Elsewhere, data showed that China’s exports increased by an annualized rate of 16.4% in March, while imports climbed 20.3%.

China is Australia’s biggest export partner and New Zealand’s second biggest export partner.

Meanwhile, USD/CAD slipped 0.13% to trade at 1.3232.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.11% at 100.17, off a two-week low of 99.94 hit earlier in the day.

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