Dollar ticks up

AFP, TOKYO: The dollar rose yesterday as traders focused on key US jobs data later in the day, with an upbeat report likely to boost hopes for a September interest rate hike. In Tokyo, the greenback ticked up to 124.79 yen from 124.73 yen in New York. The euro edged down to $1.0917 and 136.22 yen from $1.0923 and 136.25 yen. Investors are eyeing official US payroll figures later Friday for the latest clues about the timing of an interest rate hike, widely expected by September or December. "The dollar is set to test the year high against the yen if payrolls are as expected or exceed forecasts, with markets taking it as a green light for a September rate hike," Mitsuhiro Yoshida, an officer for global markets at Sumitomo Mitsui Trust Bank, told Bloomberg News. Analysts expect the US economy added 229,000 jobs in July. After a two-day meeting, the Bank of Japan Friday held off fresh easing measures, saying the world's number three economy was steadily recovering, but analysts widely expect policymakers to act later in the year.

 

 

Dollar ticks up

AFP, TOKYO: The dollar rose yesterday as traders focused on key US jobs data later in the day, with an upbeat report likely to boost hopes for a September interest rate hike. In Tokyo, the greenback ticked up to 124.79 yen from 124.73 yen in New York. The euro edged down to $1.0917 and 136.22 yen from $1.0923 and 136.25 yen. Investors are eyeing official US payroll figures later Friday for the latest clues about the timing of an interest rate hike, widely expected by September or December. The dollar is set to test the year high against the yen if payrolls are as expected or exceed forecasts, with markets taking it as a green light for a September rate hike, Mitsuhiro Yoshida, an officer for global markets at Sumitomo Mitsui Trust Bank, told Bloomberg News. Analysts expect the US economy added 229,000 jobs in July. After a two-day meeting, the Bank of Japan Friday held off fresh easing measures, saying the worlds number three economy was steadily recovering, but analysts widely expect policymakers to act later in the year.