The dollar climbed to an almost two-month high after a
Labor Department report showed the economy added more jobs than forecast last
month, boosting bets the Federal Reserve will reduce stimulus.
The greenback gained against all of its 16 most-traded
peers except Mexico’s peso as payrolls grew by 204,000 in October, versus the
median forecast in a Bloomberg News survey for a 120,000 advance. The euro
extended its biggest two-week decline in more than a year versus the dollar as
Standard & Poor’s lowered France’s credit rating after an interest-rate cut
in the region yesterday. The peso erased losses after policy makers signaled
the end of rate reductions.
The Bloomberg U.S. Dollar Index rose 0.5 percent to
1,021.66 at 5 p.m. in New York. It touched 1,024.31, the highest since Sept.
13, as it breached 200-day and 100-day moving averages.
The dollar rose 0.4 percent to $1.3367 per euro after
appreciating to $1.3296 yesterday, the strongest level since Sept. 16. The euro
added 0.6 percent to 132.42 yen. The greenback rose 1 percent to 99.05 yen.
The common currency has dropped 3.3 percent over the past
two weeks, the biggest such slide since July 2012.
(Source: Bloomberg)
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