04 Feb '11, 3am

Dollar in tight range ahead of US jobs data

TOKYO: The dollar stayed in a narrow range Friday as cautious investors waited for the release of key US jobs data, while the euro was lower after the European Central Bank dampened rate hike speculation. Trading was lacklustre with the Lunar New Year holidays keeping many regional players away from the market, dealers said. The dollar stood at 81.55 yen, little changed from 81.59 yen in New York. The euro bought $1.3622 and 111.09 yen, off slightly from $1.3630 and 112.23 yen in New York. The euro had recorded its sharpest decline in 10 weeks on Thursday from 1.38 to around the 1.36 level as the ECB kept interest rates on hold and bank president Jean-Claude Trichet struck a less hawkish tone than previously. Investors were focused on US non-farm payrolls data due later in the global day. "The market will likely react more to worse-than-expected results than better-than-ex...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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