By Cornelius Luca
New York, April 2 (BridgeNews) - The U.S. dollar trimmed gains before the release of the March NAPM manufacturing index, which is forecast to show a 42.4 reading. The greenback has already scored a new 29-month high of 126.65 yen and has sent the euro a fresh four-month low of 87.25 cents. While the U.S. data should be pretty soft, the dollar might benefit from expectations for further interest rate cuts to rebalance the economy.
* * * Dollar/Swiss franc slipped from a four-month high of 1.7462, while sterling/dollar climbed back into positive territory from a four-month low of 1.4145. USD/CAD slipped from a 31-month high of 1.5796.
The U.S. traders will likely to push dollar higher in late morning.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 126.32 126.38 -0.06 125.67 126.65
EUR/USD 0.8776 0.8760 0.0016 0.8725 0.8795
EUR/JPY 110.83 110.90 -0.07 110.25 111.00
GBP/USD 1.4192 1.4161 0.0031 1.4147 1.4220
USD/CHF 1.7395 1.7415 -0.0020 1.7377 1.7462
USD/CAD 1.5733 1.5751 -0.0018 1.5736 1.5796
AUD/USD 0.4830 0.4854 -0.0024 0.4829 0.4888
NZD/USD 0.3978 0.4025 -0.0047 0.3968 0.4038
SP.1 1588.00 -2.00 1577.00 1625.00
ND.1 1590.00 0.00 1576.50 1625.00