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Dollar Up, Investors Continue Digesting “Game Changer” U.S. Jobs Report By Investing.com

Dollar Up, But Gentle Pressure Remains Ahead of “Super Thursday”


© Reuters.

By Gina Lee

Investing.com – The dollar was up on Monday morning in Asia, climbing towards a four-month high against the euro. Investors are positioning for the U.S. Federal Reserve to begin asset tapering earlier than scheduled thanks to the latest, better-than-expected U.S. jobs report.

The that tracks the greenback against a basket of other currencies inched up 0.01% to 92.808 by 12:48 AM ET (4:48 AM GMT).

The pair inched down 0.03% to 110.22, with Japanese markets closed for a holiday.

The pair inched down 0.01% to 0.7353 while the pair edged up 0.14% to 0.7018.

The pair inched down 0.09% to 6.4767. released earlier in the day in China said the consumer price index (CPI) rose 1% and 0.3% in July. Meanwhile, the rose 9% year-on-year in July.

The pair inched down 0.01% to 1.3870.

The U.S. currency got a boost from the strong U.S. jobs report that increased bets that the Fed could start asset tapering and hike interest rates earlier than expected. The report, released on Friday, said rose by 943,000 and the fell to 5.4% in July.

“U.S. payrolls were a game-changer,” Chris Weston, head of research at brokerage Pepperstone in Melbourne, said in a note.

The dollar index is eyeing a close above the 93 mark, and the greenback could head for $1.1704 per euro, the note added. The dollar could also see further gains versus the yen as well.

The benchmark climbed to a two-week high of 1.3053% on Friday. Investors now await more U.S. economic data, including the , due on Wednesday.

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.

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