The dollar edged higher against other major currencies on Thursday, as investors eyed a fresh batch of U.S. data due later in the day and on Friday, although ongoing U.S. political concerns continued to weigh.
EUR/USD slipped 0.10% to 1.1234, off a one-week high of 1.1257 hit overnight.
The greenback has been under pressure in recent weeks amid fears investigations into President Donald Trump’s ties with Russia could hamper his administration’s progress on promised stimulus measures.
The Trump administration is under investigation by the Federal Bureau of Investigation and several congressional panels over alleged Russian meddling in the 2016 presidential election and potential collusion with the Trump campaign.
Market participants were especially eyeing Friday’s nonfarm payrolls report for further indications on the strength of the U.S. job market, which could give additional clues on whether the Federal Reserve will hike rates at its June policy meeting.
GBP/USD fell 0.32% to trade at 1.2850 after the latest YouGov poll released on Wednesday showed that Theresa May’s Conservative Party is only 3 percentage points in front of the opposition Labour Party ahead of the June 8 election.
Meanwhile, USD/JPY rose 0.20% to 110.99.
The Australian dollar was weaker, with AUD/USD down 0.38% at 0.7402 even after the Australian Bureau of Statistics reported that retail sales increased by 1.0% in April, beating expectations for a 0.3% rise.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% at 97.03, off Wednesday’s one-week low of 96.80.