Dollar edges toward one-year high as payrolls test looms

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TOKYO — The U.S. dollar edged back toward a one-year high versus major peers on Tuesday ahead of a key payrolls report at the end of the week that could boost the case for the Federal Reserve to start tapering stimulus as soon as next month.

The safe-haven greenback was also supported by an equity sell-off that spread from Wall Street to Asia.

The risk-sensitive Australian dollar was among the biggest decliners, with the Reserve Bank of Australia reiterating it doesn’t expect to raise interest rates until 2024 after keeping policy steady, as expected.

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The U.S. dollar index, which measures the currency against six rivals, rose 0.16% to 93.987, moving back toward Thursday’s peak at 94.504, its highest since late September 2020.

The index…

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