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Dollar Extends Friday Gains

Dollar Extends Friday Gains

Investors are hopeful of rise in US interest rates in the near future after better-than-expected data on US unemployment was released on Friday.

The news that much less jobs were lost in November than had been forecast caused the dollar to reach its highest point in over a month. 

Of course, the dollar’s strength caused some commodities to take the pressure – including Gold and Oil. 

November’s jobless numbers in the US were the best since December 2007.  This is leading financial experts and analysts to expect an overall improvement on dollar sentiment. 

The US dollar has been running in an extended downward trend – is this the end of that trend?

Many believe that the US Federal Reserve will increase the base US interest rate based on the improved confidence.  Yet this is still merely speculation.

By early trading in London this morning, the dollar index (.DXY, which measures against a basket of currencies) reached 76.183, a rise of 0.1 per cent.