USD Snaps Four-Session Decline with Marginal Rise

The U.S. Dollar (USD) traded marginally higher on Monday, with thin trade volumes attributed to the federal holiday commemorating Labor Day.

The greenback rose by about 0.10% against major currencies, snapping a four-day declining streak and recording its largest rise since August 26.

Last week, markets were surprised by a disappointing U.S. jobs data that showed a much less than anticipated rise in nonfarm payrolls, but an expected decline in unemployment.

Jobs numbers are critical to the Federal Reserve decision to scale back asset purchases and move towards policy normalization, as the economy recovers from the coronavirus crisis.