Dollar Up Against Euro as Investors Look Ahead to ECB, BoE Moves
The dollar rose against the euro and yen on Monday as investors disregarded last week's decline in jobs and looked ahead to interest rate decisions from central banks in Europe.
The dollar rose to 1.5697 per euro from $1.5726 late Friday. Meanwhile the U.S. currency was at 102.66 yen from 101.54 yen. The euro was at 161.17 yen from 159.9 yen. The U.K. pound rose against the dollar to $1.9853 from $1.9920, and the dollar was at 1.0156 Swiss Francs from 1.0062 Swiss francs.
On Friday the U.S. labor department reported 80,000 job losses for the month of March, while the unemployment rate rose to 5.1 percent from 4.8 percent.
The European Central Bank is likely to maintain its key interest rate at 4 percent when it meets on April 10, according to a Bloomberg survey.
The Bank of England is expected cut rates by a quarter percentage point to 5 percent.
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