The US dollar continues to strengthen on Monday after a confident rise on Friday on the data on the US labor market.
The ICE-calculated index showing the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) adds 0.1%, the broader WSJ Dollar Index – 0.15%.
Statistical data, published on Friday, showed that the US labor market is still strong, despite a significant tightening of monetary policy by the Federal Reserve System (Fed). This was taken by traders as a signal that the Fed will continue to rapidly raise its benchmark interest rate.
The number of jobs in the US economy in September increased by 263 thousand, the Ministry of Labor reported. The growth rate was the lowest since April 2021, but surpassed the consensus forecast of analysts surveyed by Bloomberg, at 255 thousand. Unemployment in the country unexpectedly fell to 3.5% from 3.7% in August.
The next Fed meeting will be held on November 1-2, and experts expect the US Central Bank to raise rates again by 75 basis points, Dow Jones notes.
The euro/dollar pair is trading at $0.9722 on Monday, compared to $0.9740 at the close of the previous session. The pound fell to $1.1065 from $1.1093 the day before.
The rate of the American currency against the yen is 145.37 yen against 145.32 yen at the close of the previous trading session.
On Friday, the dollar rose 0.63% against the euro, 0.67% against the pound and 0.41% against the yen.
