US Dollar Index Surges On Labour Day

The US dollar has continued to surge since the beginning of the weekly trading coinciding with the Labor Day holiday in the United States.

The US dollar is soaring on end of last week’s employment data that came in overall agreement with the path expected by the Fed with regard to the US labour market.

The dollar index rose up to 109.79 points, compared to the last daily close, which recorded 109.53 points.

The index fell to its lowest level on the first trading day of this week at 109.61 points, compared to the highest levels, which recorded 110.27 points.

The dollar has continued to rise since last Friday, when the US employment data was released at the end of last week signaling that the US labour market is taking the future path planned by the Fed, which strengthens the central bank’s hawkish stance regarding further rate hikes at a faster pace to fight inflation.