Dollar Rises on Iran Deal Uncertainty and Upcoming US Jobs Data
The dollar is on track for a weekly gain against major peers due to uncertainty over a possible Iran peace deal. The US currency's safe-haven appeal has increased, buoying its value.
A closely watched payrolls report could offer fresh clues on the Federal Reserve's policy path. Markets are assessing the possibility of another interest rate hike as U.S. nonfarm payrolls are forecast to have risen by 80,000 last month after an increase of 57,000 in June, according to a Reuters survey.
Nick Rees, head of macro research at Monex Europe, said 'It is all about payrolls today,' noting there could be a 'modest' dollar selloff if the report comes in softer than expected. The dollar index was a touch lower at 99.926, but up just over 0.1% for the week.