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DJ US Jobs Data to Test Dollar's Safe Haven Role -- Market Talk

· 02/05/2021 05:59

1059 GMT - The safe-haven dollar's recent resilience to positive market sentiment will be tested at 1330 GMT Friday when January's U.S. non-farm payrolls report is expected to show a return to jobs growth, HSBC says. "Today looks set to be an important signal for whether FX is truly getting over its risk on, risk off fixation and moving back to the more traditional world of interest rates and yield differentials as the key anchor for currency movements," HSBC's Dominic Bunning says. The dollar's recent appreciation, despite stock market gains, reflect higher U.S. Treasury yields on economic recovery hopes, he says. HSBC expects non-farm payrolls to rise 125,000 in January after falling 140,000 in December. The dollar index drops 0.1% to 91.4330. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

February 05, 2021 05:59 ET (10:59 GMT)

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