SINGAPORE : The euro and sterling slipped against the dollar on Friday as markets took a dovish cue from policymakers at the European Central Bank and the Bank of England, who said inflationary pressures in their economies have become more manageable.Elsewhere, the greenback broadly advanced on the back o
SINGAPORE : The euro and sterling slipped against the dollar on Friday as markets took a dovish cue from policymakers at the European Central Bank and the Bank of England, who said inflationary pressures in their economies have become more manageable.
The euro was last 0.16 per cent lower at $1.0893, after tumbling 0.7 per cent on Thursday to move further away from its 10-month peak of $1.1034. "The ECB was a little bit more dovish than markets had previously expected ... the Bank of England has given a small hint that they might be close to finishing their tightening cycle," said Carol Kong, a currency strategist at Commonwealth Bank of Australia .
Friday's nonfarm payrolls report will be the next major test of the Fed's fight against inflation. Signs are still pointing to a tight labour market, with the number of Americans filing new claims for unemployment benefits dropping to a nine-month low last week.
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