{"id":119538,"date":"2021-08-09T01:43:21","date_gmt":"2021-08-09T01:43:21","guid":{"rendered":"https:\/\/fin2me.com\/?p=119538"},"modified":"2021-08-09T01:43:21","modified_gmt":"2021-08-09T01:43:21","slug":"dollar-hits-four-month-high-on-euro-as-markets-bet-on-earlier-fed-taper","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/dollar-hits-four-month-high-on-euro-as-markets-bet-on-earlier-fed-taper\/","title":{"rendered":"Dollar hits four-month high on euro as markets bet on earlier Fed taper"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; The dollar climbed against major peers on Monday, reaching a four-month high versus the euro, as traders positioned for an earlier tapering of Federal Reserve stimulus.<\/p><figcaption>FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS\/Mohamed Abd El Ghany.\/File Photo<\/figcaption><p>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.<\/p>\n<p>The dollar index, which tracks the U.S. currency against six rivals, rose to a two-week top 92.915.<\/p>\n<p>The dollar also hit an almost two-week high of 110.37 yen.<\/p>\n<p>\u201cU.S. payrolls were a game-changer,\u201d Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note.<\/p>\n<p>The dollar index is eyeing a close above 93, while the currency could head for $1.1704 per euro, Weston wrote, adding that it could climb further versus the yen too should U.S. yields continue to tick higher.<\/p>\n<p>The benchmark 10-year Treasury yield jumped 8 basis points on Friday to a two-week high of 1.3053%. There was no trading in Tokyo on Monday with Japan shut for a national holiday. Singapore markets were also closed.<\/p>\n<p>Friday\u2019s non-farm payroll report showed jobs increased by 943,000 in July compared with the 870,000 forecast by economists in a Reuters poll. Numbers for May and June were also revised up.<\/p>\n<p>The Fed has made the labor market recovery a condition of tighter monetary policy, and most officials back the view that a jump in inflation will prove transitory, though there is debate over how prolonged it could be.<\/p>\n<p>Traders will be keenly watching a U.S. consumer price report on Wednesday.<\/p>\n<p>Last week, Fed Vice Chair Richard Clarida suggested that conditions for hiking interest rates might be met as soon as late 2022.<\/p>\n<p>The dollar rallied against its Australian and New Zealand counterparts on Monday, jumping 0.3% to as high as $0.7330 per Aussie and up 0.4% to $0.6980 per kiwi.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/global-forex\/forex-dollar-hits-four-month-high-on-euro-as-markets-bet-on-earlier-fed-taper-idUSL4N2PF0RO\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; The dollar climbed against major peers on Monday, reaching a four-month high versus the euro, as traders positioned for an earlier tapering [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":119537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dollar hits four-month high on euro as markets bet on earlier Fed taper - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/dollar-hits-four-month-high-on-euro-as-markets-bet-on-earlier-fed-taper\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar hits four-month high on euro as markets bet on earlier Fed taper - Fin2me\" \/>\n<meta property=\"og:description\" content=\"TOKYO (Reuters) &#8211; 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