Dollar Set for Four-Week Gain Versus Euro Before Key Jobs Report
- Median forecast sees 185,000 U.S. jobs created in October
- Odds of Fed rate increase by December put at more than 50%
This article is for subscribers only.
The dollar was set for its fourth weekly gain versus the euro before U.S. jobs data which may further boost investor expectations the Federal Reserve will raise interest rates next month.
The U.S. currency held close to its strongest level versus the euro since July as economists predicted employers added 185,000 workers in October, up from 142,000 the previous month. An increase may make a divergence in monetary policy between the Fed and central bankers in Europe and Japan more likely as they undertake unprecedented stimulus, which tends to weaken a currency. The dollar has appreciated against 13 of its 16 major peers this week.