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U.S. Dollar Hovers Near 11 Year High

The dollar hovered at 11-year highs against a basket of major currencies early on Friday and could extend gains if non-farm payrolls due later in the day support the case for a rise in U.S. interest rates in coming months.

Analysts polled by Reuters expect U.S. payrolls to have increased 240,000 last month and the jobless rate to have ticked down to 5.6 percent from 5.7 percent.

Such an outcome could “spur a further decline in EUR/USD as it fuels bets for a mid-2015 Fed rate hike,” said David Song, a currency analyst at DailyFX.

CNBC [1]

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