Currencies flatline into jobs reports
The dollar and Treasury yields are under pressure ahead of a non-farm payrolls report that could shed more light on how the economy is holding up amid the most aggressive monetary tightening cycle in decades. The trade-weighted greenback is almost unchanged relative to yesterday’s levels, with week-to-date gains at just 0.2 percent, while ten-year Treasury yields are holding at 4.73 percent, well off Tuesday’s 4.87 percent high. The pound is struggling to gain momentum after the Bank of England’s Ben Broadbent yesterday articulated a change in the central bank’s reaction function, appearing to suggest that growth risks were beginning to...