Dollar nears two-month peak on rate hike hopes
The dollar maintained its strong gains near a two-month high, supported by a positive U.S. jobs report that exceeded expectations, with the American labor market adding 172,000 jobs last month. This led to increased bets on the Federal Reserve raising interest rates, with odds of more than 70% in December. Meanwhile, major currencies such as the euro, British pound, Australian dollar, and New Zealand dollar declined against the dollar. The Japanese yen also fell to a level that raises concerns about Japanese intervention, amid prospects of a rate hike by the Bank of Japan.
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