Dollar firms as markets await US jobs report

The US dollar rose slightly against the euro and Swiss franc on Thursday, recovering losses from the previous day.

The euro and franc had gained on Wednesday after Republicans lost in US midterm elections.

Currency moves were limited, while US stock markets swung sharply on both days.

Traders are now watching the US employment report due Friday at 14:30 local time.

Its results could shift expectations for interest rates because stronger or weaker jobs data may affect the Federal Reserve’s decisions.

Markets now put the chance of a 25-basis-point rate increase at about 70%, down from more than 80% the day before.

The Fed’s next meeting is on December 9, and investors will watch for how the jobs data affects expectations ahead of it.