In the Asian session on Friday (June 2), the latest price of the U.S. dollar index was 103.54, and the opening price was 103.55. TickmillGroup said the dollar could strengthen if Friday’s non-farm payrolls report is strong, which could fuel market expectations for further rate hikes by the Federal Reserve.
Analyst James Harte said market sentiment had shifted toward further rate hikes in recent weeks after markets expected a pause in the Fed‘s rate-hike cycle. “With that in mind, if the data is strong again tomorrow, hawkish Fed expectations should push the dollar higher. It would probably take a big miss to actually undercut those hawkish expectations.”
The dollar index against a basket of six major currencies was down 0.624 percent at 103.480, off Wednesday’s two-month high of 104.7.
