Dollar falls for third day as traders await payrolls report

London - The dollar fell for a third day versus the euro as investors waited for July payrolls data due later on Friday, with traders bracing for the pair to hit the 1.20 mark.

The US currency dropped against most of its 16 major peers, approaching its weakest level versus Europe’s shared currency since January 2015.

Any weak data are likely to damage the dollar more than good data would be able to support it, Commerzbank strategists said in a note to clients.

While attention is beginning to focus on the 1.20 mark for euro-dollar, to actually reach this level today the labour-market report would not only have to disappoint it would have to be a “disaster,” they wrote.

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