Dollar Holds Near Two-Month High After Strong US Jobs Report

By News Desk on June 8, 2026

Dollars

Federal Reserve Outlook Supports Dollar Near Two-Month Peak

Singapore: The US dollar remained near its highest level in two months today after stronger-than-expected US employment data reinforced market expectations that the Federal Reserve may raise interest rates later this year.

The euro fell to a two-month low of US$1.1507, while the British pound declined to a three-week low of US$1.33165.

The Australian and New Zealand dollars also weakened, touching two-month lows of US$0.7016 and US$0.5779, respectively.

According to the CME FedWatch tool, financial markets are currently pricing in a probability of more than 70 percent for a US interest rate increase in December, compared to 45 percent a week earlier.

The stronger dollar also weighed on the Japanese yen, which traded at 160.33 yen per US dollar.

In cryptocurrency markets, Bitcoin rose by more than 1 percent to US$62,615.25, while Ether gained over 1 percent to US$1,652.23, recovering from a 14-month low recorded last week.

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