The dollar held losses against developed-market peers amid concern that a weak U.S. payrolls number following a report showing manufacturing stagnated could scupper an interest-rate increase by the Federal Reserve this year.
The greenback weakened Thursday after gains last month and in the third quarter as investors prepared for Friday’s September employment report. Anemic demand from China meant fewer factory orders in the U.S. in September, causing the Institute for Supply Management’s factory index to fall its lowest level since May 2013. A measure of global equities has dropped about 4 percent since Fed Chair Janet Yellen refrained from increasing rates on Sept. 17, citing international uncertainty and tepid inflation.
The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was at 1,211.88 as of 9:48 a.m. in Tokyo from 1,212.41 in New York, headed for a 0.2 percent weekly decline. The index gained 0.6 percent in September and 2.8 percent during the third quarter.
Source : Bloomberg