Reply #10: Dollar weakens ahead of U.S. data [View All]

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7B2E5F66DD%2D289E%2D45ED%2DB020%2DFC2B80A5F606%7D&siteid=mktw

LONDON (MarketWatch) - The dollar was slightly lower against the British pound and the euro Thursday, ahead of key inflation data due today and unemployment figures from the U.S. due Friday.

The euro was at $1.2963, compared with $1.2933 in Asian trade.

Kamal Sharma, currencies strategist at Dresdner Kleinwort Wasserstein, said the euro is "following a dynamic of its own," trading within the $1.29 and $1.30 band. He said we shouldn't see this change ahead of the U.S. non-farm payrolls data on Friday.

"If the payrolls figure is stronger than the implied market consensus, we'll probably see a dollar rally," Sharma said. Economists polled by MarketWatch forecast that 221,000 jobs were created last month, following a gain of 262,000 jobs in February.

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