The dollar looked set to end the week with a firmer tone on Friday as markets sc...
SYDNEY - The dollar looked set to end the week with a firmer tone on Friday as markets scaled back bets on a U.S. rate cut, though much depends on what jobs data due later in the session says about the health of the economy and wages.
That helped the dollar index recoup losses from earlier in the week to stand at 97.834 against a basket of currencies, up from a trough of 97.149. The euro was flat at $1.1174, having eased back from a $1.1219 top overnight, though it was still a shade firmer on the week. Eurozone manufacturing surveys out on Thursday showed further contraction in April, but at least got no worse.
Interest rate futures imply around a 49 percent chance the Fed would cut rates by December, down from 61 percent late on Wednesday. Yields on two-year Treasuries were also up 6 basis points on the week so far.
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