Euro escalates ahead of US jobs data

The euro lost its ground Thursday, a day before the US jobs data that may affect the Federal Reserve's timing of raising interest rates this year. Traders are anticipating the nonfarm payrolls data, which many of them believe the figures may give a clearest picture of the overall US economy. Against the US dollar, the common currency closed at $1.1196. Thursday's move emphasizes the uncertainty encompassing the market “regarding the Fed's timing,” said Joe Manimbo, Senior Market Analyst at Western Union.

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