The euro was trading rangebound against the dollar in early deals today, as dealers await this afternoon's US employment data. At 0840, the single currency was trading at USD1.0014, while against sterling, it stood at STG0.6367 Economists expect US non-farm payroll employment to rise by 41,000 in November from the previous month when payroll employment fell by 5,000. A rise would be the first since August and reverse a two-month string of negative job growth. The unemployment rate is expected to rise to 5.8pc in November from October's 5.7pc rate, while average hourly earnings are seen rising 0.3pc in November following a 0.2pc rise in October.
Sterling remained firm in early trade ahead of this morning's industrial production data. Dealers said trading overall today was likely to be relatively light, even in the aftermath of the payrolls. They said that Iraq was is due to publish its document detailing the existence of any weapons of mass destruction, which would keep trading cautious over the session.//www.fxcentre.com