A strong start and a feeble finish were the clearest features of the dollar's week. It began well enough last Friday when fourth quarter US growth was upwardly revised from 0.2% to 0.3%. Things were still going reasonably well on Tuesday when the purchasing managers' index readings from the manufacturing sector came in slightly ahead of forecast.
On Wednesday the Federal Reserve's "Beige Book" assessment of the national economy was vaguely upbeat but three of the Fed regions reported zero or negative growth. Thursday's services sector PMIs were less compelling, with one showing expansion, the other contraction.
Overall, the US data were not enough to boost or depress the dollar, which finished roughly in the middle of the major currency field. It lost two cents to sterling and strengthened by one cent against the euro. Today's employment data will be crucial to where it goes next.