Market News
Dollar heads for modest weekly rise, balancing Fed outlook and US data - REUTERS
Summary
- Dollar kicked off five-day winning streak after Fed signals last week
- Markets overreacting to labour market hints, Jefferies says
- Weak Chinese trade data may spell trouble for the euro zone
- Yen still seen as the leading defensive hedge
Nov 7 (Reuters) - The U.S. dollar was on track for a modest weekly gain as investors sought to balance the impact of the Federal Reserve's hawkish tilt against lingering concerns over the U.S. economy.
The dollar started a five-day winning streak last week after Federal Reserve Chair Jerome Powell acknowledged the risky nature of making further easing moves but dropped sharply on Thursday on soft labour data.
