Dollar struggles for momentum as markets wait for inflation data

 Dollar struggles for momentum as markets wait for inflation data

The dollar stabilised on Monday after dropping on Friday following lower-than-expected U.S. jobs data, and currency markets broadly lacked momentum as investors looked ahead to key inflation data later this week.

Friday’s jobs data was seen as a relief for markets, showing a pick-up in job growth was not strong enough to raise expectations for the U.S. Federal Reserve to tighten its monetary policy any sooner, and this hurt the dollar. read more

There was little movement in major currency pairs during the early European session on Monday. World shares were trading near record highs.

At 1125 GMT, the dollar index was flat on the day at 90.141 . The euro was down 0.1% against the dollar, at $1.2159 .

The Australian dollar, which is seen as a proxy for risk appetite, was up 0.2% versus the U.S. dollar at 0.77535 .

“After Friday, we’re looking at a foreign exchange market that’s still got no reason for the Fed to change its tune, so…

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