Too early to make call on weak US dollar

The greenback has bounced back from a more than one-year low reached in mid-July as a strong labour market and resilient economy boosted expectations the US Federal Reserve would keep interest rates higher for longer. — Bloomberg

New York: The US dollar’s slide to the lowest in more than two weeks has reignited the debate that the greenback is on the cusp of a sustained downturn. For Kit Juckes at Societe Generale, it’s too early to make that call ahead of the US monthly payrolls report.

“If Friday’s (today) data comes out strong, it will rally,” Juckes said. “As much as I would like to embrace the weaker dollar, I can’t really, yet.”