FOREX-Dollar maintains stability ahead of data, yuan gains on low volume
FOREX-Dollar maintains stability ahead of data,  yuan gains on low volume
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Weekend International Markets: Even as risk appetite increased ahead of US jobs data, the dollar remained unchanged on Friday. European stocks were generally higher as investors awaited data that could hint at the rate at which the Federal Reserve tightens its policy in the second half of 2022. Payrolls in the United States grew at a slower-than-expected rate last month, according to the ADP National Employment Report.

Friday trading is weaker due to public holidays in China, Hong Kong, and the United Kingdom. The dollar remained unchanged versus a basket of major currencies at 101.81, while the euro was unchanged at USD 1.0743.

Investors have conflicting feelings about the dollar, which is still at its all-time high of over ten years. The dollar is "pricing a safe-haven risk premium that is so severe it rarely has persisted over time and is now in the process of unwinding," according to George Saravelos, global head of FX research at Deutsche Bank.

Bullish experts say that the Federal Reserve's tightening cycle is based on a stronger growth story than Europe's, particularly in light of the Russian oil embargo, which could harm the euro zone economy. The European Union has agreed to impose a ban on Russian crude oil imports by the end of the year.

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