Dollar Could Rise Further on Prospect of December Rate Rise
Dow Jones11-06
1511 GMT - The dollar could rise further following Friday's solid U.S. nonfarm payrolls report, Monex Europe's Nick Rees says in a note. Unless U.S. inflation data for October on Tuesday are much lower than expected or November's jobs report is weak, a 25 basis-point interest-rate rise in December should be fully priced before the decision, he says. Coupled with safe-haven demand on Thursday's tech selloff, the DXY dollar index is finishing the week on a firmer footing after a post-midterms wobble, he says. The DXY dollar index rises to a one-week high of 102.358. Nonfarm payrolls rose 165,000 in October, more than forecast, while the unemployment rate unexpectedly fell to 4.1%.
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