Since the market appears to be expecting a stronger reading for payrolls, the risk is a rebound for the dollar on Friday. The dollar has been falling into this payrolls report and is the weakest currency in the G10 this week. It has also been in decline over the past month, as dollar longs placed during the peak of the Iran/ US war were unwound. While the path of least resistance is for a weaker dollar, it would need a catalyst like a stronger than expected payrolls report to give the greenback a boost.
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