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Dollar on backfoot ahead of key US jobs data - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The dollar struggled to gain a footing on Friday after falling by its sharpest pace in two weeks, as investors remained on tenterhooks ahead of the widely anticipated US jobs data and amid growing worries about a recession.

The US dollar index, which measures the greenback against a basket of currencies, fell 0.68% overnight, the largest fall since July 19, and last traded 105.79.

“Payrolls just clearly seems to be on everyone’s mind for tonight, so I think that’s keeping things relatively subdued,” said Ray Attrill, head of FX strategy at National Australia Bank. A stand-off over the return of a turbine that Russia says is holding back gas supplies to Europe showed no sign of being resolved on Thursday, as Moscow said it needed documentation to confirm the equipment was not subject to sanctions.

 

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If you declare war on your own economy by shutting it down for two years, 5trillion USD in covid stimulus of fiat currency, the economy should be recess of course. It's Newton's third law of motion at play here

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