Grapevine

Dollar edges to two-week high vs euro as U.S. payroll data looms

Yen, euro and U.S. dollar banknotes of various denominations.

The dollar climbed to a two-week top against the euro on Monday as traders pared bets for aggressive policy easing by the Federal Reserve with the focus now moving to a crucial U.S. jobs report at the end of this week.

The dollar advanced to its strongest since Aug. 21 on the yen, buoyed by a rise in long-term Treasury yields to the highest since mid-August after a closely watched measure of U.S. inflation held steady, reducing the imperative for the Fed to cut interest rates by a super-sized 50 basis points (bps) on Sept. 18.

It rose as much as 0.27% to 146.60 yen , and was last at 146.29.

The dollar index measure against major peers edged up to 101.79 early in the Asian day, a level last seen on Aug. 20.

The euro slipped slightly to $1.0430, the lowest since Aug. 19.