HONG KONG, Dec 2 — The dollar struggled to recover on Friday from its recent sell-off as traders grew confident the Federal Reserve will slow its pace of interest rate hikes, while an equities rally sputtered ahead of key US jobs data.
A report showing factory activity shrinking in November added to the sense that the Fed moves were kicking in. While the mood on trading floors has become much lighter, equity investors took a step back from their latest buying spree as they awaited the release of the closely watched non-farm payrolls report later Friday.