Dollar Climbs Most in 4 Months Before Fed on Jobs Market
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A gauge of the dollar advanced the most in four months as reports showed signs of improvement in the U.S. labor market before the Federal Reserve meets debate the pace of interest-rate increases.
The U.S. currency climbed to an eight-month high versus the euro this week as jobless claims tumbled to the lowest in eight years before of nonfarm payrolls data on Aug. 1. New Zealand’s dollar fell the most since January after the central bank said it would pause rate increases. Russia’s ruble gave back gains amid Ukraine turmoil even after the central bank unexpectedly raised borrowing costs yesterday. The Fed meets July 29-30.