Dollar Gains Against Major Rivals
(RTTNews) - The U.S. dollar firmed against its major counterparts on Monday with traders awaiting several key economic data, including the jobs report for the month of November, for more clues on interest rate outlook.
Bond yields rose on Fed Chair Jerome Powell's remarks last week that speculation about interest rate cuts is "premature."
Powell said the Fed was prepared to tighten policy further if needed, but added that interest rates were "well into restrictive territory" and were slowing inflation.
The dollar index climbed to 103.85 this afternoon, and despite easing to 103.64, remained well above the flat line, gaining 0.36%.
Against the Euro, the dollar strengthened to 1.0837 from 1.0884, and firmed to 1.2630 from 1.2711 against Pound Sterling.
The dollar advanced by nearly 0.3% against the Japanese currency, fetching 147.22 yen a unit. Against the Aussie, the dollar was up at 0.6620, gaining from 0.6675.
The dollar is up against Swiss franc, fetching CHF 0.8729 a unit. Against the Loonie, the dollar strengthened to C$ 1.3538 from C$ 1.3498 as oil prices fell amid concerns about the outlook for energy demand and skepticism about OPEC+ output cut plan.
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