Dollar rises as traders eye data-heavy week; yen strengthens

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Dollar rises as traders eye data-heavy week; yen strengthens
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NEW YORK, Sept 3 - The dollar rose to a two-week high against the euro on Tuesday as traders braced for a data-heavy week, including Friday's U.S. payrolls report that could shape the path of interest rate cuts from the Federal Reserve.

Ahead of that, job openings data on Wednesday and the jobless claims report on Thursday will be in the spotlight. "Any significant moves on the back of the release are likely to be relatively limited in nature, ahead of the wider services gauge being released on Thursday, and, of course, with all eyes remaining on Friday's key jobs report, as the main determinant of whether the FOMC will plump for a 25 basis points, or a 50 basis points, cut at the September meeting," Brown said.

The dollar, a traditional safe haven, also appeared to be benefiting from a flight to safety as stocks and riskier currencies sold off on Tuesday.Incoming data will also offer clues to whether the dollar's August slide was overdone or whether more losses are in store for the buck.

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