GBPUSD: Dollar steadies after falling overnight, nonfarm payroll

The dollar index and dollar index futures were both steady in Asian trading after falling 0.6% in overnight trading.

Pressure on the USD comes from a strong yen, while Fed Chairman Jerome Powell reiterated that the bank will not raise interest rates further.

However, the outlook for the dollar remains upbeat thanks to the prospect of a Fed rate cut being pushed back to at least the fourth quarter.

The focus now turns to nonfarm payrolls data for April, released on Friday, for further signals on the economy and interest rates.