The US dollar hit three-week highs against a basket of currencies yesterday after data illustrated job gains in August, increasing market expectations of a good figure for the big jobs figure release at Friday lunchtime. US Federal Reserve Vice Chair Stanley Fischer has said that the jobs data for August due on Friday will form part of the decision-making on when the central bank next raises its interest rates. The dollar did, however, give up the majority of the day’s gains after manufacturing figures fell in August later in the day, missing economists’ expectations.
Today will see the release of further manufacturing data, which will help to provide short-term direction for the dollar before Friday’s big release.
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