Business · Companies · 12 hrs ago
Dollar holds gains as strong US jobs data lift rate-rise bets
The US dollar held near recent highs on Monday after a sharp rise on Friday.
The move followed stronger US job growth and a lower unemployment rate in October.
Those figures led traders to expect the Federal Reserve may raise interest rates on December 9; futures put the chance at about 79%, up from 71% a week earlier.
Higher expected US rates can support the dollar by making dollar-based investments more attractive.
The euro and Australian dollar edged up on Monday after falling the previous session, while the dollar slipped against the yen.
Fed officials said inflation remains a concern, and some indicated rates may need to rise further.
The currency outlook will depend in part on upcoming economic data and the Fed’s next policy decision.
The dollar held most of its gains on Monday after strong US jobs data strengthened expectations of an interest-rate increase in December.
The dollar index stood at 102.20 in early trading, after rising about 0.7% on Friday.
The euro rose 0.1% to $1.11485, while the Australian dollar gained 0.3% to $0.6875.
Futures indicated a roughly 79% chance of a rate increase on December 9, up from about 71% a week earlier.
- Who
- The US dollar and other major currencies. US jobs data and Federal Reserve policy expectations were central to the move.
- What
- The dollar held most of its gains as strong US jobs data increased expectations of a Federal Reserve rate increase.
- When
- Monday, November 9, 2026, after the dollar rose on Friday.
- Where
- Foreign-exchange markets.
- Why
- US employment growth accelerated in October and unemployment fell, strengthening expectations of a December rate increase.
This story does not have two clearly opposing sides.
US jobs growth accelerated and the unemployment rate fell.
The dollar rose about 0.7%, its largest daily gain in nearly six months.
The dollar held most of its gains, with the dollar index at 102.20 in early trading.
Futures indicated about a 79% chance of a Federal Reserve rate increase at the meeting.
- Dollar index
- 102.20 points in early Monday trading
- Friday dollar index move
- Rose about 0.7%
- December 9 rate-rise probability
- About 79%, compared with about 71% a week earlier
- Euro
- Rose 0.1% to $1.11485
- Australian dollar
- Rose 0.3% to US$0.6875
What people are saying
The US economy has shown notable resilience in the face of successive shocks, but inflation remains elevated and returning it to the 2% target is necessary
Inflation remains at the forefront of concerns raised by businesses in his region
The central bank may need to continue raising interest rates, despite the losses seen in technology stocks