Dollar maintains gains on positive data
The dollar remained at a six-week high against other major currencies during foreign exchange trading on Monday as a series of economic data boosted the US outlook.
The dollar was 0.1 per cent down against the euro at $1.3016 in mid-afternoon trading, 0.2 per cent down against sterling at $1.9340 and static at ¥118.60.
Employment figures released on Monday showed that the US increased payrolls by 167,000, well above predictions of 115,000, while wages grew 4.2 per cent.
Two more key reports, on international trade and retail sales, are due to be released on Wednesday and Friday respectively.
Barclays Capital analyst David Woo said that recent information had caused analysts to re-evaluate the prospects for the US economy for the next six months.
"Our view is that US rates will not be cut at all in the next six months," he told the Financial Times.
"That would be consistent with some further dollar strength over the next couple of months."