U.S. Dollar Holds at One Week High

The dollar held firm at one-week highs on Friday, having pulled sharply ahead of its peers after surprisingly strong U.S. jobs growth added to hopes the economy is pulling out of a first quarter slump.

The dollar index climbed as far as 80.315 after U.S. employers blew away most forecasts by adding 288,000 jobs last month. It was last at 80.205, well off an eight-week trough of 79.740 plumbed earlier in the week.

Against the yen, the greenback hovered near a two-week high at 102.13. It was up 0.7 percent so far this week, on track for its best performance in 2-1/2 months.  “The data supports expectations for the Fed to begin coaxing the Fed funds rate higher by the middle of next year,” analysts at BNP Paribas wrote in a note to clients.

Reuters

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