Dollar hits four-month high on euro

Telegram Signals – TOKYO (Reuters) – The dollar climbed against major peers on Monday, reaching a four-month high versus the euro, as traders positioned for an earlier tapering of Federal Reserve stimulus.

Forex Signals

The greenback strengthened as far as $1.1742 to the single currency, extending a 0.6% pop from Friday, when a strong U.S. jobs report stoked bets that a reduction in asset purchases could start this year and higher interest rates could follow as soon as 2022.

The dollar index, which tracks the U.S. currency against six rivals, rose to a two-week top 92.915.

The dollar also hit an almost two-week high of 110.37 yen.

“U.S. payrolls were a game-changer,” Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note.

The dollar index is eyeing a close above 93, while the currency could head for $1.1704 per euro, Weston wrote, adding that it could climb further versus the yen too should U.S. yields continue to tick higher.

The benchmark 10-year Treasury yield jumped 8 basis points on Friday to a two-week high of 1.3053%. There was no trading in Tokyo on Monday with Japan shut for a national holiday. Singapore markets were also closed.

Friday’s non-farm payroll report showed jobs increased by 943,000 in July compared with the 870,000 forecast by economists in a Reuters poll. Numbers for May and June were also revised up.

The Fed has made the labor market recovery a condition of tighter monetary policy, and most officials back the view that a jump in inflation will prove transitory, though there is debate over how prolonged it could be.

Traders will be keenly watching a U.S. consumer price report on Wednesday.

Last week, Fed Vice Chair Richard Clarida suggested that conditions for hiking interest rates might be met as soon as late 2022.

Telegram Signals

The dollar rallied against its Australian and New Zealand counterparts on Monday, jumping 0.3% to as high as $0.7330 per Aussie and up 0.4% to $0.6980 per kiwi.

Dollar hits four-month high on euro

Forex Signals Learning Guides, to help you get started with trading. Grow your Learning knowledge on the capital markets. URL FxPremiere.com was Founded in 2010. Since then has grown with over 23,000 live subscribers globally. Daily Trading Alerts are sent by our VPS Networks worldwide via Telegram. Subscribe to our Signals and start receiving Forex Day Trading Signals from the very next trade! Forex Signals Learning Guides below with guide you with every trade you make!

FxPremiere Group has helped over 5,000 Forex Affiliates earn up to $800 CPA on referrals and has grown immense revenue streams for online affiliates. Trading Forex has never been easy. The World of Forex Trading is growing day by day and its crucial to keep up to date with trends and market analysis. Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily.

FX Signals

The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more… Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners.With our free forex learning guides you will be able to educate yourselves with the most up to date forex basics required in order to enter the Capital Markets. FxPremiere.com Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms.