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Home Nonfarm Payroll Dollar strong, Fitch rating cut has little impact

Dollar strong, Fitch rating cut has little impact

by anna

Strength in the dollar was also driven by anxiety ahead of key U.S. nonfarm payrolls data on Friday, which kept traders clear of non-yielding assets such as gold.

Any signs of resilience in the labor market give the Federal Reserve more impetus to keep raising interest rates, which bodes poorly for gold.

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Analysts expect payrolls to have eased slightly in July, staying near relatively high levels.

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The dollar trimmed some gains after ratings agency Fitch cut its U.S. sovereign rating to AA+ from AAA.

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