Citigroup says US dollar set to weaken

Weaker US dollar: The Bloomberg Dollar Spot Index dropped to a two-week low after a Labour Department report added 142,000 jobs – Bloomberg

NEW YORK: The dollar is looking down.

Citigroup Inc, the top foreign-exchange trader by volume and one of the banks to correctly forecast a weaker-than-projected jobs report, said Friday's data will cause the US currency to depreciate. With the Federal Reserve less likely to raise interest rates amid global economic growth concern, the bank sees refuge currencies including the yen and the euro benefiting.