Foreign exchange market: The dollar stabilizes against the euro on Monday : Orishas-finance

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Foreign exchange market: The dollar stabilizes against the euro on Monday

09/11/2021

Categories: Economy/Forex

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Foreign exchange market: The dollar stabilizes against the euro on Monday

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After a busy week marked by a US Federal Reserve (Fed) meeting and a jobs report that drove the greenback to new highs, the dollar stabilized against the euro on Monday.

While the greenback benefited from a report on US jobs, the high number of job creations and rising wages could push the Fed to tighten its monetary policy to avoid overheating the economy. Around 11:50 am, the euro grabbed 0.01% to 1.1568 dollars for one euro. On Friday, the euro fell to 1.1514 dollars, its lowest since July 2020. The British pound lost 0.07% against the dollar at 1.3488 dollars for one pound and 0.09% against the euro at 85.77 pence for one euro.

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