Economics
Dollar Extends Best Streak Since March on Fed Speculation, China
- Soft trade data for second-largest economy hurts rand to real
- U.S. currency reaches strongest level this month versus yen
Fed, Bond Markets Face Off Over Interest Rates
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The dollar climbed for a fifth day, the longest streak of gains since March, on speculation the Federal Reserve is still on course to raise interest rates this year, even amid signs of slowing growth in the labor market.
The U.S. currency appreciated against those of commodity exporters, led by the South African rand, after trade data in China showed disappointment in exports and imports persisted. The dollar rallied versus the yen as traders are still assigning close to a 50 percent chance of at least one Fed interest-rate increase in 2016 even after a report May 6 showed April jobs gains trailed forecast.