Dollar Edges Up as Markets Weigh Chances of Fed Rate Hike

Dollar Edges Up as Markets Weigh Chances of Fed Rate Hike
A man displays US dollar notes after withdrawing cash from a bank in Harare, Zimbabwe, on July 9, 2019. Philimon Bulawayo/Reuters
Reuters
Updated:

LONDON—The dollar edged up against major peers on Monday, as markets priced in around a 1-in-4 chance of the U.S. Federal Reserve raising benchmark rates this month after robust jobs data on Friday.

The dollar index—which tracks the greenback against six peers—came off the boil last week, after some Fed officials voiced a preference for a pause in rate hikes and after a breakthrough in U.S. debt ceiling talks calmed market jitters.