Dollar Stays Fairly Steady Ahead Of RBI Policy
(RTTNews) - The U.S. dollar firmed on Monday, extending gains from the previous session, amid bets the Federal Reserve will keep interest rate higher for longer after data showed employment jumped by much more than expected in May.
The Labor Department said non-farm payroll employment surged by 272,000 jobs in May after climbing by a downwardly revised 165,000 jobs in April.
Higher bond yields contributed as well to dollar's rise.
The euro shed ground after French President Emmanuel Macron called for snap legislative elections later in June after the European Union elections showed a broader shift towards right-wing and far-right parties.
Traders looked ahead to the Federal Reserve's monetary policy announcement, and the crucial U.S. consumer price inflation data, due later in the week.
The dollar index climbed to 105.39 before easing to 105.13, still holding firm, gaining about 0.25%.
Against the Euro, the dollar strengthened to 1.0765 from 1.0818. The dollar was slightly weak against Pound Sterling at 1.2731, after having firmed to 1.2688 earlier in the day.
Against the Japanese currency, the dollar gained to 157.06 yen a unit. The dollar weakened to 0.6610 against the Aussie.
The Swiss franc was flat against the greenback at 0.8965, while the Loonie gained marginally against the dollar at C$ 1.3759.
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