Dollar steadies ahead of data, yuan rises in low volume

Shafaq News / The dollar was little changed on Friday, even as risk appetite picked up ahead of U.S. jobs data.

European shares were mostly higher as investors waited for data which could provide hints on the pace of the Federal Reserve's policy tightening in the second half of 2022.

The ADP National Employment Report showed U.S. payrolls rising at a slower-than-expected pace last month.

Trading on Friday is quieter with markets in China, Hong Kong and the UK closed for public holidays.

The dollar was flat at 101.81 against a basket of major currencies , along with the euro at $1.0743 .

Investors have mixed views on the greenback, which is still close to its highest level in almost 10 years.

George Saravelos, global head of forex research at Deutsche Bank, said the dollar is "pricing a safe-haven risk premium that is so extreme it rarely has persisted over time and is now in the process of unwinding".

(Reuters)