London (awp/afp) – The dollar is slipping while awaiting the publication of the American employment report, while the pound is rising after new remarks from a member of the Bank of England (BoE).
Around 11:05 a.m., the greenback appreciated by 0.07% against the single currency, to 1.1022 dollars per euro.
But it fell 0.23% against the British currency, to 1.3156 dollars per pound, and also fell against the yen (-0.35%).
Forex traders remain cautious before the publication of the government report on job creation in the United States for September, which must be published at 2:30 p.m.
“The recent series of more positive than expected American economic figures has strengthened” the dollar in recent days, summarizes Lee Hardman of MUFG.
Indeed, these data reinforced the conviction of market players “as to the ability of the Federal Reserve (Fed) to carry out a more modest rate cut of 0.25 percentage points at the next meeting in November”, where they previously expected a cut of 0.5 points.
The analyst notes that “these expectations will be tested” by today’s report on non-agricultural employment (NFP).
Economists surveyed by the Bloomberg agency expect 150,000 additional jobs in September, with an unemployment rate unchanged compared to August, at 4.2%.
For its part, the pound is recovering somewhat from its tumble the day before.
On Thursday, it lost up to 1.33%, falling to its lowest since mid-September after remarks from British central bank governor Andrew Bailey referring to a “slightly more aggressive” rate cut policy.
But in remarks published at the start of the session, the chief economist of the British central bank, Huw Pill, conversely points to a “need for caution” in monetary easing, which must be done in a “gradual” manner.
“Although further cuts in the key rate remain possible” if inflation cools as expected and the economic outlook allows, “it is important to remain vigilant against the risk of reducing rates too sharply or too quickly,” a- he argued in a speech given Friday in London.
If a reduction in the key rate at the next BoE meeting in November is largely priced in, the possibility of a second cut in a row in December is still debated on the markets.
Cours de vendredi Cours de jeudi ---------------------------------------------- 09H05 GMT 21H00 GMT EUR/USD 1,1022 1,1031 EUR/JPY 161,37 162,08 EUR/CHF 0,9392 0,9408 EUR/GBP 0,8378 0,8405 USD/JPY 146,41 146,93 USD/CHF 0,8521 0,8528 GBP/USD 1,3156 1,3124
afp/ck
Related News :