The US dollar rose on Friday after data showed the world’s largest economy created more jobs than expected in June, cementing expectations of another 75 basis-point hike at the Federal Reserve’s policy meeting later this

month. Earlier in the session, the greenback hit a fresh two-decade high against a basket of currencies, led by gains against the euro amid signs the euro zone economy will tip into recession. The dollar has hit consecutive

20-year peaks this week, gaining in five of the last six weeks. The dollar index was last up 0.3pc at 107.30. Friday’s data showed that US nonfarm payrolls increased by 372,000 jobs last month. Economists polled by Reuters had forecast 268,000 jobs added last month.

Share This News