© Reuters. The U.S. dollar was a touch higher on Friday.
Investing.com – The U.S. dollar was higher against other currencies on Friday, as better-than-expected jobs data increased the chances that the Federal Reserve will increase interest rates later this month.
The , which measures the greenback’s strength against a basket of six major currencies, rose 0.17% to 95.15 as of 10:54 AM ET (14:54 GMT).
The U.S. economy added in August, while rose to 2.9%. The positive data locks in expectations that the Fed will raise rates at its next meeting Sept. 25-26.
Meanwhile, trade tensions lingered, as U.S. President Donald Trump could put tariffs on another $200 billion worth of Chinese goods that could go into effect as soon as Friday. China said it would retaliate if new tariffs were imposed.
At the same time, trade negotiations to revamp the North American Free Trade Agreement (NAFTA) with Canada continued, with a deal by the end of September possible, Reuters reported. The loonie was flat against the dollar, with falling 0.01% to 1.3141 amid data showing Canada’s unemployment rate was higher than expected in August.
The dollar rose against the safe-haven yen, with increasing 0.36% to 111.14 amid reports that Trump could look at trade with Japan next. The president has previously expressed concern about the U.S. trade deficit with Japan.
fell 0.30% to 1.1586 and increased 0.33% to 1.2972.
Meanwhile, the Australian dollar was lower, with dipping 0.72% to 0.7146, while was down 0.41% to 0.6560.
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