Greenback looking for direction on Nonfarm Payrolls - BTMU

FXStreet (Guatemala) - Lee Hardman, currency analyst at the Bank of Tokyo Mitsubishi UFJ explained that the US dollar has regained upward momentum ahead of the first Fed rate hike since 2006.

Key Quotes:

"The market is currently discounting around a 50:50 probability of the first rate hike being delivered in September. US dollar direction in the week ahead will be dictated by the latest non-farm payrolls report."

"The importance of the report could result in in an outsized impact on the US dollar. Unless there is a material negative surprise the US dollar appears likely to strengthen further."