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Dollar near three-week high, U.S. job gains weaken case for big Fed cut


Monday, 8 July 2019 15:47 WIB

Indeks DolarDolar AS


The dollar rose broadly on Monday after strong U.S. jobs growth in June suggested the Federal Reserve will not aggressively cut interest rates later this month.

U.S. nonfarm payrolls rebounded in June to 224,000, the most in five months, data showed on Friday, beating economists' consensus estimate of 160,000.

The dollar index (DXY) climbed to as high as 97.443 on Friday, its highest level since June 19, as U.S. Treasury yields rose across the board.

The index, which measures the greenback against a basket of major currencies, was last quoted at 97.215, almost flat in Asian trade on Monday, while the euro (EUR=) traded at $1.1226.

Against the yen, the dollar advanced to as high as 108.640 on Friday, its highest since June 18. The pair was last quoted at 108.33 yen.

Source: Investing.com


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