The dollar wobbled in Asian trading on Monday, April 3 as some lacklustre U.S. data and comments from Federal Reserve officials gave investors few catalysts to build on their U.S. currency exposure, Reuters reveals.
The dollar index, which tracks the U.S. currency against a basket of six major rivals, edged up slightly to 100.400. It notched a low of 98.858 last week, its weakest level since November 11, in the wake of U.S. President Donald Trump's failure to get a healthcare reform bill passed last month.
"The dollar got some support last week from month-end buying and came off its lows, but overall its heaviness remains unchanged," said Mitsuo Imaizumi, Tokyo-based chief foreign-exchange strategist for Daiwa Securities.
"This week, investors are waiting for Friday's non-farm payrolls report, and a worse-than-expected reading would push the dollar down more than a better-than-expected reading would push it up," he said, underscoring the already cautious expectations on the pace of further U.S. rate hikes this year.
Economists polled by Reuters predict the U.S. economy will have added 180,000 jobs in March.
The Bank of Japan's "tankan" survey released on Monday showed that large Japanese manufacturers expected the dollar to average 108.43 in the fiscal year that began this month.
The dollar stood at 111.34 yen on Monday, nearly flat on the day and below Friday's 10-day peak of 112.19 yen.
The tankan also showed that big manufacturers' business sentiment improved for a second straight quarter to hit a 1-1/2-year high in March, a sign the benefits of an export-driven economic recovery were broadening.
