Investing.com – The dollar pushed higher against a currency basket on Monday, as a recent solid run of U.S. economic data underpinned expectations for further gradual rate hikes by the Federal Reserve through the end of this year and beyond.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.22% to 95.52 by 03:27 AM ET (07:27 AM GMT) after hitting a six-week high of 95.78 last week.
The Labor Department reported Friday that while the rate of jobs growth slowed sharply in September, likely due to the effects of Hurricane Florence, the unemployment rate fell to its lowest level in almost 50 years.
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