The dollar slipped on Friday against a basket of currencies, holding above a one-week low as a mixed report on the U.S. jobs market in August reinforced the view of a slowing expansion and the possibility of more interest rate cuts from the Federal Reserve.
Traders now await clues on the Fed’s next move after it embarked on its first rate cut since 2008 in July when Fed Chair Jerome Powell participates on a panel about the economy and monetary policy in Zurich, which begins at 12:30 p.m.
An index that tracks the greenback against the euro, yen, sterling and three other currencies was 0.19% lower at 98.223 after hitting a one-week low of 98.085 on Thursday. The dollar index is on track for 0.67% decline, its steepest weekly loss since June.
The greenback lost ground against its rivals as global tensions receded this week, most notably with China and the United States agreeing to high-level trade talks in October.
Source : CNBC