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Before the non-farm payrolls, the US dollar is "holding its breath," and the data could be the detonator.
BlockBeats news, July 2 – The US dollar index traded near 101.20 during early European hours on Thursday. Sentiment turned cautious ahead of the key US employment report due later Thursday, and the dollar index edged lower.
Mitsubishi UFJ Bank senior analyst Akihiko Yokoo said that if nonfarm payroll data exceeds expectations, the dollar could accelerate its rebound. The daily chart shows the spot dollar index is biased bullish in the short term, with prices holding above the 100-day moving average, and the overall upward trend remains intact.