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Dollar Continues To Surge Higher
(RTTNews) - The U.S. dollar climbed higher against most of its major counterparts on Monday, extending recent gains, amid bets the central bank will continue to aggressively hike interest rates.
Recent strong jobs data and remarks by several Fed officials indicate the central bank will announce another 75-basis point hike in interest rates in November.
The dollar index surged to 113.33 this afternoon, and despite easing to 113.13, remains well above the flat line, gaining 0.3% over its previous close.
Against the Euro, the dollar has firmed to 0.9707 from 0.9740, gaining about 0.4%.
The dollar is trading at $1.1058 against Pound Sterling, gaining from $1.1093.
Against the Japanese currency, the dollar is stronger, fetching 145.74 yen a unit, as against 145.24 yen a unit on Friday.
The dollar is gaining more than 1% against the Aussie at 0.6299.
The dollar is up marginally against Swiss franc at CHF 0.9997 a unit, compared with CHF 1.0000 a dollar.
Against the Loonie, the dollar is at C$1.3781, gaining from C$1.3738.
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