Dollar rises on anticipation of US jobs data

Thursday, October 06, 2022 - 19:29
Point Trader Group

On Thursday, October 6, the dollar continued the rise that began yesterday, as investors awaited the data on jobs and inflation in the United States, in search of indications that may mean reducing the intensity of the interest rate hike and reducing the rise of the US currency.

The euro fell 0.27% to $0.9859, after the release of the minutes of last month's European Central Bank meeting showed that policy makers are concerned that inflation may remain at elevated levels.

The British pound also fell 0.6%, while the dollar held firm against the Japanese yen and Swiss franc.

And the dollar index rose by 0.3%, retreating from its highest level in 20 years at 114.78, which it recorded at the end of September.

One of the main factors driving the currency markets is fluctuating expectations regarding the severity of the hike that may be announced by central banks, especially the US Federal Reserve for interest rates.

US jobs data is due on Friday, while inflation data will be released next week.

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