Dollar Index Steady as Attention Turns to US Jobs Data

The dollar was largely stabilized as global markets began to be in a state of caution at the start of the week, while currency markets’ attention turned to US jobs data due out on Friday.

Some analysts attributed the lack of momentum during trading in Asia to an increase in Covid-19 cases in the region, as isolation measures were implemented in Sydney, Australia’s most populous city.

Indonesia is battling a record number of infections, while Malaysia has extended isolation measures. Thailand also announced new restrictions in Bangkok and other regions.

But the Australian dollar rose about 0.1% on the day to 0.75939 in early Asian trade.

The dollar index was little changed at 91.718. It was down 0.5% last week.

The New Zealand dollar rose 0.2% to $0.708.

The below-expected inflation data had little effect on easing concerns about the US Federal Reserve’s curtailment of monetary stimulus programs.

The personal consumption expenditures price index in the United States, which excludes the prices of highly volatile food and energy components, increased 0.5%, below expectations for a rise of 0.6%.

The euro advanced about 0.1% against the US dollar at $1.1941.

The Canadian dollar fell 0.1% against its US counterpart to 1.2292.

The pound rose 0.4% against the US currency to $1.3925.

In terms of cryptocurrencies, Bitcoin rose 1.5% to about 35 thousand and 100 dollars.