Forex news

The dollar headed for a weekly loss against the euro and yen before a U.S. report forecast to show American employers cut jobs last month, damping demand for assets in the world's largest economy. The euro traded near a two-week high versus the greenback before European data today forecast to show retail sales rose for a third month. The dollar, which traded at $1.2823 per euro from $1.2825 yesterday, headed for a 0.5 percent loss this week. The greenback was at 84.19 yen from 84.28. The euro bought 107.97 yen from 108.09 yen.

The dollar and the yen were on the defensive on Thursday, retaining most losses made the previous day when upbeat data helped lure investors away from safe-haven currencies and assets. Data released on Wednesday showed the U.S. manufacturing sector grew faster than expected in August, China's factory regained momentum and Australia's economy expanded at its fastest pace in three years in the second quarter. The data lifted stocks, commodities and higher-yielding currencies. In early Asian trade, the euro inched down 0.1 percent to $1.2796, having risen as high as $1.2856 the previous day. The dollar edged up 0.1 percent to 84.54 yen, staying above a 15-year low of 83.58 yen hit last week. The euro was barely moved against the yen at 108.17 yen after jumping 1.3 percent the previous day.