By Kevin Buckland
TOKYO (Reuters) -The dollar hovered close to an eight-week low on Friday ahead of a crucial U.S. jobs report that could provide clues on the timing of Federal Reserve interest rate cuts.
The euro held on to overnight gains after the European Central Bank reduced rates in a well-telegraphed move, but offered few hints about future easing as lingering inflation clouds the outlook.
The , which tracks the currency against the euro and five other major rivals, was little changed at 104.09 as of 0453 GMT, not far from this week’s low of 103.99, the first time it had broken below 104 since April 9.
For the week, the index was on track for a 0.54% slide following a run of weaker macro data that put prompted investors to put two, quarter-point Fed rate cuts back on the table for this year.
That has seen traders positioned for a softer non-farm payrolls report later in the…
