Dollar Declines Ahead Of Jobs Data
The dollar fell against the pound and the euro Friday on speculation a government report due out just after 2.00pm GMT will show that the US economy lost the most jobs since 2003, bolstering the case for the Federal Reserve to lower interest rates.
Speculation is mounting that the Fed will drop US interest rates by a half percent to just one half percent at its next meeting.
The dollar weakened to $1.2785 per euro from $1.2653 and $1.5805 from an intraday low of $1.5539.
Data due later today is expected to show that US payrolls fell by 200,000 last month, and the unemployment rate rose to a five-year high of 6.3 percent.
Speculation is mounting that the Fed will drop US interest rates by a half percent to just one half percent at its next meeting.
The dollar weakened to $1.2785 per euro from $1.2653 and $1.5805 from an intraday low of $1.5539.
Data due later today is expected to show that US payrolls fell by 200,000 last month, and the unemployment rate rose to a five-year high of 6.3 percent.
