Dollar Remains Steady in Anticipation of US Employment Data

The US dollar stays stable against the basket of major currencies as investors' focus shifted to US employment data, and Jerome Powell's appointment as chairman of the Fed did not come as a surprise.

The dollar declined yesterday after Republicans in the US House of Representatives published proposals to revise the tax code. The Republicans called for lowering the corporate tax rate to 20% from 35%.

The US dollar fell by 0.1% against the Japanese yen, and traded at 113.94. The euro remains stable, and the EUR/USD pair was held at 1.1659.