Greenback goes up as US rate hike hopes persist
On Monday, the greenback went up against the other key currencies, as Friday’s dismal American jobs report failed to crush expectations for an American rate lift before the year end.
Trading volumes were supposed to remain thin, with most financial as well as federal institutions unavailable for the Columbus Day holiday. It also means that on Monday no major data releases are on tap.
The currency pair EUR/USD edged down 0.21%, hitting 1.1177.
The US dollar initially weakened after the US Labor Department reported on Friday that in September the American economy managed to add up to 156,000 jobs, compared to expectations for about 175,000 jobs.
The report also demonstrated that the unemployment rate went up to 5.0% the previous month from August’s outcome of 4.9%.
The currency pair GBP/USD descended 0.13%, hitting a 31-year minimum of 1.2420.
Meanwhile, USD/CAD shed lost 0.27%, being worth 1.3261, still close to Friday’s seven-month minimum of 1.3314.