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Dollar Trades Steady After Shrugging Off Weak Jobs Data
The dollar was trading steady after reaching a two-week high on Thursday as investors shrug off weak U.S. jobs data.
U.S. job openings fell to the lowest level in more than five years in December, the Labor Department said Thursday. However, the focus is on upcoming nonfarm payrolls data, which will be published Wednesday after being delayed due to the recent partial government shutdown.
Moreover, President Trump’s nomination of Kevin Warsh as Federal Reserve chair has lifted the dollar as markets bet that he will take a restrictive policy stance and uphold central bank independence. Markets are not fully pricing in another interest-rate cut until June, LSEG data show.