Dollar stable against euro ahead of US labor market data release
AFP, August, 2004
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Forex-Europe
LONDON (AFP) ? The dollar was stable against the euro while awaiting the release of crucial US labor market data for July.
The single European currency edged up to 1.2048 dollars from 1.2046 late on Wednesday in New York.
The dollar rose to 111.52 yen from 110.51 on Wednesday.
"Forex markets can best be described as being in a state of calm before the storm," said Divyang Shah at IDEAglobal.com.
Doubts about the all-important gauge of job creation -- US non-farm payroll figures are to be released Friday -- grow Wednesday after a second batch of Institute for Supply Management (ISM) data for July indicated a weak employment situation.
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Earlier in the week, the manufacturing sector had showed a similar story, and since then financial markets have been scaling back previously optimistic forecasts of a rise on Friday of 260,000 jobs.
But Shah ...
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