* U.S. hiring slows in August but wages grow faster than
expected
* Riskier currencies on track for weekly gains
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(Updates market action, changes dateline, previous LONDON)
By Richard Leong
NEW YORK, Sept 6 (Reuters) - The dollar slipped on Friday
against a basket of currencies, holding above a one-week low as
a mixed report on the U.S. jobs market in August reinforced the
view of a slowing expansion and the possibility of more interest
rate cuts from the Federal Reserve.
Traders now await clues on the Fed's next move after it
embarked on its first rate cut since 2008 in July when Fed Chair
Jerome Powell participates on a panel about the economy and
monetary policy in Zurich, which begins at 12:30 p.m. EDT (1630
GMT).
"The jobs data were sufficiently mixed," said Marc Chandler,
chief market strategist at Bannockburn Global Forex LLC in New
York. "The market is not going to change its view of a rate cut
later in September."
The U.S. Labor Department said private and public employers
hired 130,000 workers in July, fewer than the 158,000 forecast
among economists polled by Reuters, while hourly wages grew 0.4%
last month, a tad faster than the 0.3% increase projected by
analysts. Interest rate futures still implied traders positioned for a
quarter-point rate decrease at the Fed's Sept. 17-18 policy
meeting, according to CME Group's FedWatch program.
At 10:06 a.m. EDT (1406 GMT), an index that tracks the
greenback against the euro, yen, sterling and three other
currencies .DXY was 0.19% lower at 98.223 after hitting a
one-week low of 98.085 on Thursday.
The dollar index is on track for 0.67% decline, its steepest
weekly loss since June.
The greenback lost ground against its rivals as global
tensions receded this week, most notably with China and the
United States agreeing to high-level trade talks in October.
Safe-haven bids for the dollar abated in response to
political opposition to a "no-deal" Brexit and Hong Kong leader
Carrie Lam's withdrawal of an expedition bill that triggered
months of violent protests.
"The world stared into the abyss this week, and it pulled
back," Chandler said.
Still, global tensions have not dissipated, so there remain
some underlying bids for the dollar and yen, he said.
The Japanese yen JPY=EBS was up 0.18% versus the dollar
and up 0.06% against the euro EURJPY=EBS .
Meanwhile, riskier currencies are looking at weekly gains
with improved investor sentiment.
For example, the Australian dollar was up 0.53% at $0.6851,
putting it on track for its first weekly increase since
mid-July.
The Aussie dollar, whose fortunes are tied to the Chinese
economy, was bolstered earlier by the People's Bank of China's
move to cut banks' reserve requirements for the first time this
year.
The Chinese currency in the offshore market CNH=D3
extended gains and was trading up 0.37% against the greenback at
7.1118 yuan.
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Currency bid prices at 10:07AM (1407 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1049 $1.1033 +0.15% -3.66% +1.1056 +1.1021
Dollar/Yen JPY= 106.7400 106.9200 -0.17% -3.19% +107.0900 +106.6400
Euro/Yen EURJPY= 117.95 117.98 -0.03% -6.55% +118.2600 +117.8500
Dollar/Swiss CHF= 0.9873 0.9858 +0.15% +0.60% +0.9917 +0.9855
Sterling/Dollar GBP= 1.2312 1.2329 -0.14% -3.49% +1.2343 +1.2287
Dollar/Canadian CAD= 1.3167 1.3227 -0.45% -3.42% +1.3235 +1.3160
Australian/Doll AUD= 0.6850 0.6813 +0.54% -2.82% +0.6853 +0.6808
ar
Euro/Swiss EURCHF= 1.0911 1.0877 +0.31% -3.05% +1.0931 +1.0876
Euro/Sterling EURGBP= 0.8972 0.8947 +0.28% -0.13% +0.8986 +0.8946
NZ NZD= 0.6440 0.6373 +1.05% -4.12% +0.6443 +0.6365
Dollar/Dollar
Dollar/Norway NOK= 8.9679 9.0067 -0.43% +3.81% +9.0219 +8.9667
Euro/Norway EURNOK= 9.9103 9.9415 -0.31% +0.04% +9.9525 +9.9105
Dollar/Sweden SEK= 9.6033 9.6855 -0.71% +7.13% +9.6936 +9.5998
Euro/Sweden EURSEK= 10.6143 10.6907 -0.71% +3.39% +10.6945 +10.6110
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