Dollar Soars on Fed Rate Hike Expectations

TL;DR

Dollar steadies with US-Iran tensions, nonfarm payrolls in focus Dollar Gains as Resilient Job Market Boosts Fed Hike Bets The dollar index (DXY00) on Friday rallied to a 1.75-month high and finished up by +0.66%. The dollar recovered from early losses on Friday and surged on the stronger-than-expected US May payroll report, bolstering speculation that the next Fed move will be an interest rate increase. Also, Friday's stock market sell-off boosted liquidity demand for the dollar.