Currencies
Dollar Rises to Highest in a Month as Fed Cut Bets Stall
- Currency gauge on longest weekly winning streak since February
- JPMorgan, Citigroup both postpone calls for first Fed cut
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A Bloomberg gauge of dollar strength is on its longest weekly winning streak since February as the strength of the US economy crushed any remaining hopes of near-term Federal Reserve policy pivot.
The benchmark rose nearly 0.8%, to the highest level in more than a month, after an advance in nonfarm payrolls Friday. Odds of a Fed rate cut were pushed out after the report with the swaps market now pricing in the first full 25 basis point rate-cut from the Federal Reserve no earlier than December.