Dollar retreats from highs as focus turns to payrolls

 Dollar retreats from highs as focus turns to payrolls

An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany./File Photo

SINGAPORE, Oct 4 (Reuters) – The dollar eased from last week’s peaks on Monday as encouraging trial results for a COVID-19 pill supported risk appetite, but investors remained cautious ahead of central bank meetings in Australia and New Zealand as well as U.S. labour data this week.

The euro crept back above $1.16, and was up 0.1% at $1.1606, a recovery from last week’s 14-month low of $1.1563. The yen has also bounced from a 19-month low and was similarly up 0.1% in Asia trade at 110.92 per dollar.

Sterling, the Australian dollar and the New Zealand dollar all edged higher in early trade, extending late-week gains.

“Whether it follows through or not, I don’t know,” said Westpac analyst Imre Speizer on the phone from Christchurch.

“I’d say there could still be more downside and that would prop up…

Read full article…