The U.S. dollar was hovering at one-week highs against other major currencies on Friday, as investors awaited the release of key U.S. employment data later in the day and as concerns over Washington's protectionnist policies eased.
Market participants were looking ahead to the monthly U.S. nonfarm payrolls report due later Friday, for further indications on the strength of the job market after data on Thursday showed that initial jobless claims increased more than expected last week.
Meanwhile, concerns over a potential global trade war due to U.S. tariffs on steel and aluminum imports eased after U.S. President Donald Trump signed a more tempered version of the plan on Thursday.
Trump signed the imposition of 25% tariffs on steel imports and 10% for aluminium but announced exemptions for Canada and Mexico and left the door open for exceptions for other countries.
Japan reacted to the news by sayong the move would have a "big impact" on the countries' close bilateral ties, while China said it was "resolutely opposed" to the decision. South Korea said it may file a complaint to the World Trade Organization.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08%
Market participants were looking ahead to the monthly U.S. nonfarm payrolls report due later Friday, for further indications on the strength of the job market after data on Thursday showed that initial jobless claims increased more than expected last week.
Meanwhile, concerns over a potential global trade war due to U.S. tariffs on steel and aluminum imports eased after U.S. President Donald Trump signed a more tempered version of the plan on Thursday.
Trump signed the imposition of 25% tariffs on steel imports and 10% for aluminium but announced exemptions for Canada and Mexico and left the door open for exceptions for other countries.
Japan reacted to the news by sayong the move would have a "big impact" on the countries' close bilateral ties, while China said it was "resolutely opposed" to the decision. South Korea said it may file a complaint to the World Trade Organization.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08%