Investing.com - The dollar edged higher against the other major currencies on Friday, as investors eyed the release of a highly anticipated U.S. jobs report amid uncertainty over how much the Federal Reserve will be able to raise interest rates this year.
USD/JPY was steady at 116.82.
The dollar remained under pressure after New York Federal Reserve President William Dudley said on Wednesday that the weakening outlook for the global economy and any further strengthening of the dollar could have "significant consequences" for the health of the U.S. economy.
Investors were looking ahead to the U.S. nonfarm payrolls report for January, due later Friday, for fresh indications on the strength of the labor market.
Data on Thursday showed that initial jobless claims rose by a larger-than-forecast 8,000 to 285,000 last week, but remained in territory usually associated with a firming labor market.
EUR/USD eased 0.09% to trade at 1.1195.
Earlier Friday, data showed that German factory orders fell by 0.7% in December, compared to expectations for a downtick of 0.5%, after a 1.5% increase the previous month.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% at 96.60, off the previous session’s three-and-a-half month low of 96.27.