Euro Holds Ground Near 1.16 Amid Hawkish Fed Odds

The EUR/USD currency pair rose in early Asian trade on Monday, hovering near 1.1615 and holding above 1.1600.

This move came after a firmer US August jobs report tempered scope for further gains in the euro.

Nonfarm Payrolls rose by 162,000, compared with an upwardly revised 21,000 in July, beating forecasts of 56,000; the Unemployment Rate was unchanged at 4.1%.

Pricing for a 25 bps rise at the Federal Reserve’s September meeting shifted to 58.3% from 50.2%, according to CME FedWatch.