U.S. dollar climbs on rate-hike expectation

The U.S. dollar increased against most major currencies on Monday as the upbeat nonfarm payroll report from the country spurred market expectation for an interest rate-hike by year-end.

U.S. total nonfarm payroll employment rose by 255,000 in July, beating economists' estimates of 180,000, and the unemployment rate was unchanged at 4.9 percent, the Labor Department reported Friday.

Average hourly earnings for all employees increased 8 cents to 25.69 U.S. dollars, following a 2-cent increase in June, according to the report.

Analysts said the Federal Reserve may raise interest rates later this year given the robust labor market.

The U.S. central bank left the benchmark interest rate unchanged in its July meeting, and said that near-term risks to the economic outlook have diminished.

The dollar index, which measures the greenback against six major peers, was up 0.18 percent at 96.367 in late trading on Monday.

In late New York trading, the euro fell to 1.1084 dollars from 1.1091 dollars of the previous session, and the British pound dipped to 1.3041 dollars from 1.3082 dollars. The Australian dollar went up to 0.7655 dollars from 0.7622 dollars.

The dollar bought 102.44 Japanese yen, higher than 101.80 yen in the previous session. The dollar climbed to 0.9827 Swiss francs from 0.9797 Swiss francs, and it inched up to 1.3163 Canadian dollars from 1.3157 Canadian dollars. Enditem