FOREX-Dollar cements rebound after jobs data triggers tapering bets
09-Aug-2021 07:21:17 | Yahoo Sports
The dollar hit a four-month high against the euro on Monday, reversing a recent fall after strong labour market data encouraged investors to bring forward their bets on the Federal Reserve reducing its pandemic-era stimulus. 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. Following the jobs report, the benchmark 10-year Treasury yield jumped 8 basis points on Friday to a two-week high of 1.3053%.
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