Market News
Dollar slides as bond markets stabilise, jobs data looms - REUTERS
Summary
- Yen gains after Japan-US trade deal lowers auto tariffs
- Traders expect near-100% chance of Fed rate cut this month
- Trump's Fed nominee vows independence from political pressure
TOKYO/LONDON, Sept 5 (Reuters) - The dollar declined versus major peers on Friday, trimming its weekly gain as bond markets stabilised and traders awaited key U.S. jobs data expected to firm up the case for an interest rate cut by the Federal Reserve.
Data on Thursday showing higher-than-expected applications for jobless benefits in the U.S. served as a prelude to the more critical nonfarm payrolls report. Bonds rallied in the U.S., Europe and Japan after fiscal concerns spurred a run-up in long-term yields, while the S&P 500 hit a new all-time high.
