On Monday, the Greenback held steady vs. a basket of the major currencies but remained backed by anticipations of higher interest rates. Demand for the U.S. dollar continued to be supported after Friday’s stronger-than-expected U.S. jobs report underlined expectations for a rate rise by the Federal Reserve at its highly anticipated meeting.
An official data showed that the U.S. economy added a larger-than-forecast 228k jobs in the last month, but the report also showed that wage growth remained tepid.
The Single currency rose as much as 0.20% vs. the Greenback, to settle at $1.1797, pulling back from Friday’s three-week low of $1.1729.
The Sterling pound fell as much as 0.10%, to settle at $ 1.3379. The Bank of England will meet this week and is expected to keep rates unchanged.
The U.S. dollar fell vs. the JPY by 0.09%, to settle at ¥113.38. No major reports are due from Japan today.
Earlier today, Gold prices edged higher thanks to a weak U.S. dollar, but gains are likely to be limited by expectations of higher interest rates in the U.S. Gold Futures - Feb 18 (GCG8), rose as much as 0.35%, to settle at $1,252.80.
Oil prices fell at the beginning of the week as last week's increase in the U.S. rig count could undermine OPEC-led efforts to boost prices by withholding supplies. Crude Oil WTI Futures - Jan 18 (CLF8) fell as much at 0.70% at $56.95 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.50% at $63.08.
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