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Forex - Dollar mostly higher as China export, U.S. jobs data lingers

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Investing.com - The U.S. dollar is trading higher against nearly all of its major rivals during Friday's Asian session ahead of the February non-farm payroll report due out from the U.S. Labor Department later today.

In Asian trading Friday, EUR/USD fell 0.11% to 1.3095 despite news that the European Central Bank will leave interest rates unchanged at 0.75%.

Speaking of central bank news, GBP/USD fell 0.03% to 1.5012 after the Bank of England announced no interest rate changes and no alterations to its GBP 375 billion asset-purchasing program.

USD/JPY jumped 0.36% to 95.18, the pair's highest level in nearly four years after a report showed that Japan's GDP rose 0.2% in the fourth quarter following an initial reading that showed a contraction of 0.4%.

On Thursday, the Bank of Japan, gave a somewhat rosy assessment of the world's third-largest economy, saying exports have stopped declining while increased government and real estate are helping boost the economy. BoJ announced no material monetary policy changes at the conclusion of its two-day meeting yesterday.

Elsewhere, USD/CHF rose 0.14% to 0.9440 while USD/CAD advanced 0.11% to 1.0305 on moderately lower oil prices.

Ahead of Chinese export data due out later today, AUD/USD fell 0.12% to 1.0257 while NZD/USD slipped 0.21% to 0.8268. China is the largest trading partner for both Australia and New Zealand. Economists expect the China's export data for February to show an increase of 8.1% compared to January's surge of 25%. Imports are expected to have declined 8.5%.

After that report, traders will turn their attention to the release of the February non-farm payroll report due out from the U.S. Labor Department later today. Economists expect the U.S., the world's largest economy to show the addition of 160,000 new jobs last month. Analysts believe the February number will be somewhat hindered by fears of government spending cuts.

The U.S. Dollar Index advanced 0.12% to 82.22.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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