Dollar higher after upbeat jobs data
Currencies Direct November 11th 2013 - < 1 minute read
The dollar was holding firm near a two-month high against a
basket of currencies on Monday (November 11th), having been
sent broadly higher after upbeat US jobs data bolstered the
case for the Federal Case to begin tapering this year.
A keenly awaited payrolls report on Friday showed US employers
added 204,000 jobs last month, beating expectations and helping
spur the dollar index to 81.482, its highest since September.
The dollar climbed one per cent against the yen to break the 99
mark, before USD/JPY eased to 98.95.
EUR/USD slipped to 1.3357 as the under-pressure euro languished
close to a two-month trough of 1.3295 plumbed on Thursday when the
European Central Bank cut its main rate to 0.25 per cent.
ECB executive board member Benoit Couere said on
Saturday the bank could cut rates further.
Meanwhile, the common currency remained near a 10-month low
against the pound, with the EUR/GBP
exchange rate trading at 0.8353. Sterling was broadly flat
against the dollar at 1.6013.
Elsewhere, the Australian dollar remained near a five-week low
against its US counterpart. AUD/USD was trading at 0.9385
as trading opened in London.
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Currencies Direct