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Dollar rises against rivals in subdued trade

Published 08/10/2015, 06:22 AM
© Reuters.  Dollar strengthens broadly as U.S. jobs data still supports
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Investing.com - The dollar rose against the other major currencies in subdued trade on Monday, as demand for the greenback remained broadly stronger after Friday's upbeat U.S. employment data.


Trading volumes were expected to remain light with no major U.S. data to be released throughout the day.

EUR/USD slipped 0.24% to 1.0937.

The Labor Department reported on Friday that the U.S. economy added 215,000 jobs last month, slightly lower than forecasts for an increase of 223,000, but still consistent with strong employment growth.

The unemployment rate remained unchanged at 5.3%, in line with expectations.

Hourly earnings, a component of the jobs report that the Federal Reserve has said must rise, ticked up 0.2%, also matching forecasts after stalling in the previous month.

The data was seen as reinforcing expectations for higher U.S. interest rates.

In the past three months the greenback has been boosted by investor expectations that the Fed will raise short term interest rates in the coming months, possibly as early as September.

The euro found some support amid reports that negotiations between Greece and its international creditors over a new bailout deal worth €86 billion should conclude by early Tuesday.

The dollar was higher against the pound, with GBP/USD down 0.17% at 1.5462.

Elsewhere, the dollar was higher against the yen, with USD/JPY gaining 0.36% at 124.72 and steady against the Swiss franc, with USD/CHF at 0.9842.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.81% to 0.7358, while NZD/USD tumbled 1.12% to 0.6563.

Meanwhile, USD/CAD added 0.25% to trade at 1.3166.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.23% at 97.89.

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