Dollar rises on strong U.S. jobs data; China trade hope limits gains

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By Saqib Iqbal Ahmed

NEW YORK (Reuters) – The dollar made modest gains against the yen on Friday, boosted by upbeat U.S. jobs data, but gains were limited by hopes that Washington and Beijing can repair the trade tensions that have spurred safe-haven buying of the greenback.

U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, which could keep the Federal Reserve on track to raise interest rates in December.

“Even though we had a pretty strong payrolls report, it still seems like the dollar’s gains were somewhat muted,” said Sireen Harajli, foreign exchange strategist at Mizuho in New York.

The dollar was 0.28 percent higher against the yen, while the euro was up 0.02 percent against the greenback.

“I think we might be seeing some signs that dollar gains are starting to become somewhat limited at these levels,” she said.

Read more at : https://www.investing.com/news/forex-news/dollar-sags-as-safe-havens-fade-on-improved-confidence-pound-stands-tall-1671282

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