The Australian dollar was en route to weekly losses against the world's reserve currency on Friday as the U.S. prepared to release a healthy jobs report, according to Bloomberg.
In anticipation of convening two days of meetings at the end of this month, the U.S. Federal Reserve is likely to consider the jobs data when deciding on next steps with economy-spurring monetary stimulus policy. The meetings mark the final days of the tenure of Ben Bernanke as chair of the Fed.
"It was a typically muted session in Asia ahead of non-farm-payrolls," currency strategist Sue Trinh with RBC Capital Markets told The Wall Street Journal on Friday while a Deutsche Bank clients note on the same day stated: "We think the expectation of our U.S. team is at the upper end of the expected range. As such, if realized, the impact on markets could be material."
The Aussie was ebbing and flowing against the U.S. dollar while slumping toward weekly losses of 0.5 percent against its counterpart.
The U.S. economy, recognized as the globe's biggest, strengthened payrolls by 191,000 in December, according to a poll of economists administered by The Wall Street Journal.
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