Forex Today: US Dollar extends pullback as markets await key jobs data

Here is what you need to know on Friday, May 3: The US Dollar (USD) stays under modest bearish pressure early Friday, with the USD Index (DXY) trading at its lowest level in three weeks, slightly above 105.00.

Here is what you need to know on Friday, May 3: The US Dollar stays under modest bearish pressure early Friday, with the USD Index trading at its lowest level in three weeks, slightly above 105.00. In the second half of the day, the US Bureau of Labor Statistics will release April jobs report, which will include Nonfarm Payrolls, Unemployment Rate and wage inflation figures. The ISM Services PMI report for April will also be featured in the US economic docket ahead of the weekend.

0730. After spending a large portion of the day below 1.2500, GBP/USD reversed its direction in the American session and closed in positive territory. The pair holds its ground in the European morning and trades modestly higher on the day near 1.2550. Following Wednesday's sharp decline, which was seeminglycaused by a Japaneseintervention in the foreign exchange market, USD/JPY extended its slide in closed in negative territory on Thursday.

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