Dollar Holds Gains Amid Hawkish Fed Signals

The US dollar has held onto gains following Fed Chair Kevin Warsh's hawkish speech last Friday, which is seen as a signal for a potential rate hike in September. Energy prices have also risen, supporting the dollar trend.

Investors are bracing themselves for a stronger dollar and tighter monetary policy from the Federal Reserve. The market expects the Fed to hike rates in September, barring any dovish data ahead of the FOMC meeting on 16 September.

The hawkish Fed story is expected to dominate the markets over the next 24 hours, with the release of the Fed's jobs report and a moderated discussion with Christopher Waller, a member of the Federal Reserve Board. This could lead to further dollar gains against low-yielding currencies such as the Swiss franc.