Dollar Gains as Traders Eye Iran Talks and Jobs Data

The US dollar strengthened against several major currencies on Friday as traders eyed upcoming Iran talks and awaited the latest US jobs data. The greenback edged up to ¥158.505 in Asian morning trading, after gaining 0.4% on Thursday. Against the euro, it rose slightly to US$1.1521.

The dollar's gains were fueled by higher Treasury yields, which rose due to concerns about inflation and a potential interest rate hike by the Federal Reserve in September. The Fed's chair, Kevin Warsh, has suggested that he would be open to raising rates if inflation data is strong, according to a Financial Times report.

The monthly US payrolls report, due later on Friday, could provide more clues on the Fed's rate path and boost or curb the dollar's momentum. Analysts forecast US nonfarm payrolls to have risen by 80,000 last month after an increase of 57,000 in June, with the unemployment rate expected to hold steady at 4.2%.