Wall Street Live

Dollar Dips Ahead of Jobs Report, Longs at 3-Year High

By Barry Stearns

4/4, 07:32 EDT
  • The recent turnaround in yields has led to a decline in the dollar, with the DXY now trading lower ahead of Friday's labor market report. Dollar long positions have surged in the past two weeks, reaching the most aggressive level in three years, posing a risk for the currency.
  • Despite the low CPI print, the euro managed to rally, highlighting the potential vulnerability of dollar longs. The upcoming employment report on Friday could lead to a further pullback in the dollar if weak, given the recent intense buying activity.