The U.S. dollar found its footing in early Asian trading on Tuesday, holding above eight-month lows as investors hedged their bets in case the delayed U.S. payrolls report for September was stronger than expected.
The U.S. dollar index, which tracks the greenback’s performance against a basket of major currencies, edged up to 79.725, holding above Friday’s trough of 79.478 but still nursing losses of more than 1 percent since Wednesday.
The dollar has been hit hard as investors bet this month’s 16-day government shutdown would have taken a toll on the world’s biggest economy, forcing the Federal Reserve to maintain its massive stimulus program until next year.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.