Dollar edges up after August US payrolls paints mixed picture

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Dollar edges up after August US payrolls paints mixed picture - Channel News Asia

Quick Summary:

NEW YORK :The dollar edged up in volatile trading on Friday after data showed U.S.employment grew less than expected in August, but indicated a steady slowdown in the labor market, likely supporting gradual interest rate cuts by the Federal Reserve.

Safe haven demand and expectations for imminent rate hikes from the Bank of Japan have helped support the Japanese currency in recent sessions.

Right now, the derivatives market shows traders see very little chance of a rate cut this month, but a quarter-point cut is fully priced in for November.