US Dollar Index Surges Above 99.00 on Strong US Jobs Data
The US Dollar Index has strengthened above 99.00 as robust US jobs data boosts Fed rate hike bets.
Data released by the US Bureau of Labor Statistics on Friday showed that Nonfarm Payrolls (NFP) climbed by 162K in August, surpassing market consensus of 56K.
Traders have moved to price in a roughly 58.3% probability that the Federal Reserve will hike rates this month following the stronger US jobs data, according to the CME FedWatch tool.