US dollar mixed after sharp rise

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New York: The US dollar traded mixed against other major currencies on Tuesday after a sharp rise in the previous session.

The dollar index, which measures the greenback against six major peers, retreated 0.20 percent to 98.462 in late trading on Tuesday.

The index rose 0.31 percent to 98.658 in late trading on Monday as the greenback had been firmly supported by the latest nonfarm payrolls from the country released last week.

Total nonfarm payroll employment increased by 211,000 in November, beating market consensus of 190,000, reported the US Labour Department Friday.

Analysts said the solid job growth “cleared the last hurdle” for the Federal Reserve to raise interest rates next week for the first time in almost a decade.

On the economic front, the US Labour Department said Tuesday that the country’s job openings were little changed at 5.4 million in October.

In late New York trading, the euro increased to $1.0886 from $1.0846 in the previous session, and the British pound declined to $1.4998 from $1.5066 in the previous session. The Australian dollar dropped to $0.7206 from $0.7266.

The US dollar bought 123.06 Japanese yen, lower than 123.28 yen of the previous session. The US dollar declined to 0.9929 Swiss franc from 0.9998 Swiss franc, and it went up to 1.3582 Canadian dollars from 1.3510 Canadian dollars.