Dollar Stands Firm Amid U.S. Election Tensions

The dollar remained steady against major currencies, as investors awaited the U.S. jobs report ahead of the Federal Reserve meeting and a close presidential election. The yen retained gains, while the euro and sterling faced fluctuations. Upcoming Fed policy decisions may further impact currency and economic outlooks.

The dollar maintained stability against other major currencies on Friday, as investors anticipated the revealing U.S. jobs report. This comes as they brace for the Federal Reserve's monetary policy meeting and the looming U.S. presidential election, set for next week.

Earlier in October, the dollar faced pressures but marked its largest monthly gain since September 2022. Revelations about U.S. nonfarm payrolls data, predicted to show a gain of 113,000 jobs in October, remain difficult to interpret due to catastrophic weather impacts.

With an unemployment rate expected at 4.1%, economic analysts continue assessing labor market trends and forthcoming Fed interest rate decisions. Market reactions continue across currencies, with the yen showing resilience following Japan's central bank announcements, while the euro and pound fluctuate amid economic policy shifts.

(With inputs from agencies.)