Dollar holds gains after strong payrolls as Fed hike bets climb
According to Reuters, the dollar stays near a 1.5-year high against the euro as markets raise odds of a December Fed rate hike.
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what happened
The US dollar traded close to a high of roughly one and a half years against the euro and a seven-month peak against the Australian dollar, Reuters reported. On Friday the currency jumped by the most in almost six months after October jobs data showed faster job growth and a lower unemployment rate. The dollar index stood at 102.20 early on Monday.
Futures imply about 79% odds of a Fed rate hike on December 9, according to CME FedWatch, up from 71% a week earlier. The euro edged up 0.1% to $1.11485, and the yen weakened to 158.185 per dollar. The New Zealand dollar rebounded from a seven-month low as the election outcome remained uncertain, with official results due on November 27.
why it matters
For markets, rate-hike expectations keep supporting the dollar even amid a tech stock selloff. Barclays strategists said strong data has so far not dented the currency's appeal. EUR/USD and the dollar pairs against the yen and Aussie remain sensitive to Fed rate expectations.
market impact
Dollar: Fed hike bets support the currency, pressure on the euro and Aussie
- US dollar (DXY) pressure up — rising Fed rate-hike expectations after strong jobs data
- EUR/USD pressure down — the dollar strengthened against the euro, which slipped after Friday's drop
tags
instruments
on polymarket
sources
- US dollar holds onto payrolls gains, NZ dollar rises after election — Reuters, 9 November 2026 at 01:14 UTC
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