U.S. Dollar Continues Momentum on Upbeat Data By

© Reuters. – The greenback rose to a three-week high on Monday after upbeat jobs data underlined the strength of the U.S. economy, even as the Federal Reserve paused its monetary policy tightening.

Upbeat jobs numbers on Friday, along with ISM manufacturing data, helped ease concerns about a possible slowdown.

The , which measures the greenback’s strength against a basket of six major currencies, increased 0.27% to 95.553 as of 10:42 AM ET (15:42 GMT).

Investors have quickly scaled back nascent expectations that the Fed might need to cut interest rates later this year. Last week the Fed said it would evaluate data before making any adjustments to its monetary policy.

The dollar was higher against the safe-haven yen, with rising 0.5% to trade at 109.43.

Elsewhere, the euro was under pressure, with falling 0.14% at 1.135 while was flat at 1.3078.

In Australia, the slipped 0.5% to 0.7211 as traders waited for the Reserve Bank of Australia’s policy meeting on Tuesday, where it is expected to keep cash rates steady.

dipped 0.3% to 0.6872.

Meanwhile the loonie was lower, with up 0.2% to 1.3131.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.