Dollar trims gains against the euro and yen

NEW YORK, April 1 (Reuters) – The dollar trimmed gains
against the euro and yen on Friday after New York Federal
Reserve Bank President William Dudley said while U.S. jobs
growth is likely to rise more rapidly in the coming months it
is was not a reason for the Federal Reserve to reverse course.
[ID:nEBE7DA00H]

“Dudley is taking a much more cautious view than the Fed
hawks that have been speaking over the last 24 hours, and
that’s helped the euro,” said Brian Dolan, chief strategist at
Forex.com in Bedminster, New Jersey. “The hawks are known
quantities but Dudley is among the three policymakers at the
core of the FOMC.”

The euro edged higher against the dollar to $1.4094 (EUR=: Quote, Profile, Research)
from $1.4067 before the report, still down 0.5 percent on the
day.

The dollar was last at 84.48 (JPY=EBS: Quote, Profile, Research), compared with
84.54 yen prior to the data, still up 1.6 percent on the day.
(Reporting by Nick Olivari and Steven C Johnson; Editing by
Theodore d’Afflisio)

Dollar trims gains against the euro and yen