FX.co ★ Dollar Steady Ahead of Jobs Report

The dollar index hovered around 99.9 on Friday as investors awaited the March jobs report, due later in the day, for fresh insight into the US economy and the Federal Reserve’s policy path. A significant deterioration in labor market conditions could revive expectations for Fed rate cuts later this year—bets that had largely been priced out as surging oil prices, driven by the war in the Middle East, reignited inflation concerns. On Thursday, President Donald Trump pledged more aggressive strikes on Iran within the next two to three weeks, dashing hopes for a swift resolution to the conflict and renewing demand for the greenback as a safe-haven asset. At the same time, a report indicated that Iran is working with Oman on a protocol to monitor traffic through the Strait of Hormuz, offering some degree of relief. Overall, the dollar remains on track for a modest weekly decline.