Despite a slight slowdown in job growth in the United States, the Federal Reserve revealed that its plans for three further interest rate increases in 2018 remain unchanged. Based on this, the USD was able to kick off and mark gains against most currencies, including the euro. The dollar index also increased to 91.98.
Though the jobs report was quite disappointing, investors had faith in the dollar. The fact that the lower statistic did not change the outlook for further rate hikes bodes well for the USD.
However, economic data from the eurozone continues to come in positive, so if there is even a hint at a monetary policy tightening by the European Central Bank, the dollar could begin losing its positions to the euro once again.
The USD also made gains on the yen and the British pound, as well as the Australian and New Zealand currencies.
