-
US dollar edges up as US rates seen higher for longer
The dollar firmed against major peers in Asian trading after a robust U.S. jobs report spurred traders to price in higher interest rates for longer. The Australian dollar erased early losses after a report showed a pick-up in services activity in key trading partner China. The yuan also got a boost. The Canadian dollar proved resilient, buoyed by a spike in crude oil prices. The U.S. dollar garnered support from higher Treasury yields after data on Friday showed payrolls in the public and private sector increased by 339,000 in May, far outstripping the 190,000 forecast on average by economists polled by Reuters. The ... (full story)