The dollar sank to its lowest in almost a month against major rivals on Friday, ahead of a crucial U.S. jobs report that could spur the Federal Reserve to an earlier tapering of stimulus.

The dollar index, which measures the greenback against six peers, was little changed at 92.227 after earlier touching 92.151 for the first time since Aug. 5.

The Euro was also mostly flat at $1.1876, after hitting the highest since Aug. 4 at $1.1884, supported by regional inflation at a decade high and hawkish rhetoric from European Central Bank officials ahead of a policy meeting on Sept. 9.

Meanwhile, the U.S. central bank has made a labour market recovery a condition for paring pandemic-era asset purchases.

“With 5.7mn less people employed than in February 2020, the bar looks quite high for the Powell Fed to be hurried into announcing tapering at Sep 22nd Fed meeting,” ING strategists said in a note.

“Unless we do see a 1mn+ NFP figure today, we would say DXY can continue to drift to the 91.80/92.00 area – especially since the EUR should stay supported into next Thursday’s ECB meeting,” ING said.

The dollar had been strengthening for most of last month on the view that a taper could be imminent, even as COVID-19 cases spiked in the United States, which paradoxically gave the currency an additional boost because of its role as a safe haven.

But the dollar index retreated after hitting a 9-1/2-month high of 93.734 on Aug. 20 as Fed officials began suggesting the virus’ spread could delay policy tightening.