Dollar rises, investors expect 2021 Fed taper despite weak U.S. jobs data
The dollar performed well on Monday morning in Asia, touching a two-and-a-half-year high against the yen. Investors are still expecting the United States’ Federal Reserve to start its asset tapering this November despite an unfavorable U.S. jobs report.
The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% higher to 94.093 by 10:54 PM ET (2:54 AM GMT).
The USD/JPY pair climbed 0.30% to 122.56, staying above the 112-mark.
The AUD/USD pair tallied an increase of 0.27% to 0.7326, while the NZD/USD pair slid 0.04% to 0.6935.
The USD/CNY pair fell 0.10% to 6.4373, while the GBP/USD pair jumped 0.25% to 1.3645.
Non-farm payrolls and the unemployment rate in September touched 194,000 and 4.8%, respectively. Possible labor shortages loom, adding to the escalating inflation concerns. However, the Fed is still expected to start asset tapering this year.
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