Dollar rises ahead of U.S. jobs data

The dollar rose ahead of the release of U.S. non-farm payrolls data, which could provide hints about the timing of the next rate cut by the Federal Reserve. ING economist Francesco Pesole said in a report that the balance of risks is tilted towards a rise in the dollar, as potentially strong employment data could "prompt the market to digest the March rate cut and could push the first fully priced rate cut beyond June." If the data is weaker than expected, investors may cut their long dollar positions betting on a rise in the dollar. However, these longs may be rebuilt at better levels ahead of the upcoming key data and Trump's presidential inauguration on January 20. (Jinshi)