US dollar holds onto payrolls gains, NZ dollar rises after election
TOKYO: The US dollar traded not far from a 1-1/2-year high versus the euro and a seven-month high on the Aussie on Monday, after surging by the most in nearly six months on Friday as robust US jobs data pushed up bets for higher interest rates. New Zealand’s currency bounced from a seven-month trough after too-close-to-call weekend elections weakened the government, although the country will need…
The US dollar held onto its gains, trading near a 1-1/2-year high against the euro and a seven-month peak on the Australian dollar on Monday. This surge came after strong US jobs data on Friday, which boosted expectations for higher interest rates. New Zealand's currency, the kiwi, also rose following a close election, but the government's majority will only be confirmed after final vote counting in late November.
The US Dollar Index, which tracks the dollar's strength against six major currencies, remained steady at 102.20 early Monday, following a 0.7% increase on Friday.
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