Dollar Gains On Interest Rate Comments, Job Growth – 2 May, 2019

Investors scaled back bets over the future of U.S. rate cuts with the dollar ending the week firm, but job data due later in the session could change that with results showing the condition of the economy and wages. Federal Reserve Chairman Jerome Powell’s comments about the current standing of interest rates helped the dollar recoup some losses from earlier in the week when it fell to 97.149 with the currency last settled at 97.834. Against the yen, the dollar was steady at 111.46. The euro was little changed at $1.1174, having hit $1.1219 overnight. The Australian dollar dropped 0.55 percent to $0.6996. April job gains are anticipated to be in the 180,000 range in the first quarter, with average hourly earnings estimated to have risen 0.3 percent in April.