Reply #33: Dollar Is Little Changed Versus Yen, Euro Before Payroll Data

[citizen snips]

Feb. 1 (Bloomberg) -- The dollar was little changed against the yen and euro before a report tomorrow that is forecast to show U.S. employers hired the fewest workers in three months.

The yen gained against the dollar earlier after reports showed a U.S. manufacturing index contracted and a measure of inflation was less than forecast. The Japanese currency has rebounded from a four-year low versus the dollar on Jan. 29.

``People are waiting for a clearer signal of which way the U.S. economy is heading,'' said Brian Dolan, research director at Forex.com, a unit of online currency trading firm Gain Capital in Bedminster, New Jersey, which has about $250 million worth of funds under management. ``They don't want to put big positions before the payroll report.''

The U.S. currency traded at 120.69 yen at 1:06 p.m. in New York, from 120.70 yesterday. The dollar traded at $1.3022 per euro from $1.3032. The yen gained to 157.16 per euro, from 157.29.

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http://www.bloomberg.com/apps/news?pid=20601083&sid=aYEk0afsyxMs&refer=