Dollar edges higher as Fed's Dudley offsets weak U.S. jobs data
Reuters - May 06, 2016
The dollar rose against a basket of currencies on Friday as a top Federal Reserve official's remarks convinced some investors that U.S. interest rates could rise faster than expected even though April hiring data was weaker than forecast.
New York Fed President William Dudley told the New York Times it was reasonable to expect the U.S. central bank would raise rates twice in 2016 despite data that showed domestic hiring fell to 160,000 in April, its lowest in seven months.
Dudley is a permanent voter on the Fed's policy-setting group and his view is seen as aligned with Fed Chair Janet Yellen.