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The dollar rises as traders evaluate jobs data and interest expectations
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Economy News-Follow-up
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Added 12/06/2023 - 10:59 AM
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Economy News-Follow-up
The price of the dollar approached its highest level in two weeks against a basket of currencies on Wednesday, as investors evaluated US economic data that showed a decline in jobs in the labor market, while betting that the Federal Reserve (the US central bank) would cut interest rates next year.
The dollar index, which measures the performance of the US currency against six competing currencies, rose by 0.019% to 103.99, after rising 0.3% overnight. The index also rose 0.5% this month, after falling 3% last November, the largest monthly decline in a year.
Data on Tuesday showed that job opportunities in the United States fell to their lowest levels in more than two and a half years last October, the strongest sign yet that rising interest rates are weakening demand for labor.
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Added 12/06/2023 - 10:59 AM
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