Summary The dollar gained strength against the euro, yen and pound Thursday ahead of US jobs report.
NEW YORK (AFP) - The dollar gained strength against the euro, yen and pound Thursday a day ahead of an expected strong US employment report for December.
The dollar was at $1.1795 per euro, nearly a half-cent stronger than Wednesday, in a market anticipating more stimulus from the European Central Bank and, conversely, a trend toward tightening at its US counterpart, the Federal Reserve.
Analysts expect Friday s US jobs report to confirm the strength in the US economy with some 245,000 jobs created, pushing the official unemployment rate down a notch to 5.7 percent.
"When it comes to US economic reports there s nothing more important to the Fed than labor market numbers," said Kathy Lien of BK Asset Management.
"The December employment report is scheduled for release on Friday and the big question is whether the strength in November carried into December."
Lien predicted that it if the number of new jobs in the report tops 250,000 and the jobless rate falls, "the dollar will climb to new highs."
"But if it prints in line with expectations and the jobless rate remains unchanged, we could see more profit taking in the greenback."
