U.S. dollar rises amid Fed rate hike expectation
Xinhua, March 9, 2016 Adjust font size:
The U.S. dollar gained Tuesday as market expected the Federal Reserve to continue the interest rate hike this year.
Given the considerable improvement in labor market, traders believed that the U.S. central bank will continue the rate hike.
Total nonfarm payroll employment increased by 242,000 in February, topping market expectations, and the unemployment rate was unchanged at 4.9 percent, the U.S. Labor Department announced Friday.
The dollar index, which measures the greenback against six major peers, was up 0.09 percent at 97.190 in late trading.
In late New York trading, the euro fell to 1.1007 U.S. dollars from 1.1012 dollars in the previous session, and the British pound dropped to 1.4214 U.S. dollars from 1.4261 dollars. The Australian dollar went down to 0.7445 U.S. dollar from 0.7470 dollar.
The U.S. dollar bought 112.57 Japanese yen, lower than 113.28 yen of the previous session. The U.S. dollar increased to 0.9963 Swiss franc from 0.9952 Swiss franc and inched up to 1.3404 Canadian dollars from 1.3289 Canadian dollars. Endit