US dollar retreats as investors take profits
TLT•The US dollar retreated as investors took profits, reversing some gains from safe-haven demand, while stronger-than-expected October US job growth reinforced bets on a December Federal Reserve rate hike.
1. Dollar pulls back
The US dollar retreated at the start of the week on profit-taking, reversing some gains driven by safe-haven demand. Stronger-than-expected US job growth in October had cemented bets on a Federal Reserve interest rate hike in December.
2. Other currencies
Sterling could face pressure if Bank of England Governor Andrew Bailey pushes back against hawkish monetary policy expectations. Germany's stronger-than-expected export rebound offered modest support to the euro, while a weaker dollar boosted risk appetite and lifted the Australian dollar during Monday's Asian session.
