TOKYO - The dollar nursed losses against major currencies on Friday ahead of the U.S. non-farm payrolls report, which some investors fear could reinforce the view that momentum in the world’s largest economy is slowing.
Analysts say the dollar will continue to fall, particularly against the euro, the yen and Swiss franc, as expectations for a V-shaped recovery from the coronavirus epidemic fade and investors take a more sanguine view of markets. Against the euro, the dollar stood at $1.1868 on Friday, close to its weakest in more than two years.The dollar teetered near a five-year low against the safe-harbour Swiss franc at 0.9109.
Earlier this week, the five-year Treasury yield hit an all-time low, and the benchmark 10-year yield fell to its second-lowest ever, further reasons to shun the greenback.U.S. Republicans and Democrats have so far failed to reach an agreement on the cost of fiscal stimulus measures that many investors say is necessary to prevent the economy form losing more momentum.
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