By Arab Desk
The dollar rose today, after strong jobs data for the month of March reinforced expectations that the Federal Reserve (the US central bank) will raise interest rates again, next May.
The dollar index rose 0.67 percent in the latest trading against a basket of currencies to 102.68, the highest level since the third of this April, while the euro fell 0.51 percent to 1.0841 dollars, which is the lowest level since the third of this April.
The dollar rose against the Japanese yen after Kazuo Ueda, the new governor of the Bank of Japan, said: “It is appropriate to maintain the bank’s ultra-loose monetary policy for the time being, with inflation not yet reaching 2 percent”. The dollar rose in its latest transactions by 1 percent to 133.45 yen, the highest level since the third of April. The focus of the US economy this week will be on consumer price data, which will be released the day after tomorrow (Wednesday).
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Source: The dollar is rising, supported by expectations of the US central bank raising interest rates
Category: News, World, Interest Rates, The dollar, The dollar rate, the US central bank
