Dollar climbs to fresh 14-year highs vs. other majors

© Reuters. Dollar continues to climb on U.S. optimism, rate hike talk

Investing.com – The dollar climbed to fresh 14-year highs against the other major currencies on Friday, as optimism over the strength of the U.S. economy and growing expectations for a December rate hike by the Federal Reserve continued to boost the greenback.

slid 0.29% to an 11-month low of 1.0593.

The greenback strengthened broadly after the U.S. Department of Labor said on Thursday that fell by 19,000 last week to 235,000, the lowest level since 1973.

Separately, the Commerce Department said surged 25% in October to hit 1.323 million units, while rose 0.3% to 1.229 million units.

Data also showed that rose 0.4% in October, in line with expectations. Year-over-year, increased by 1.6% last month, its highest reading since October 2014.

The upbeat data added to optimism over the strength of the U.S. economy and fueled further expectations for a rate hike at the Fed’s policy meeting next month.

Earlier Thursday, of the danger of waiting too long to tighten monetary policy and that a rate hike was likely “relatively soon.”

The comments came a day after that he was in favor of raising interest rates, while the Fed must not overreact to market moves following the shock result of the presidential election.

fell 0.29% to 1.2386, the lowest since November 10.

Elsewhere, climbed 0.55% to trade at a five-month high of 110.73.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.34% at a fresh 14-year peak of 101.34.

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Dollar climbs to fresh 14-year highs vs. other majors