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US dollar climbs higher as investors await US jobs report
04:28
US
US dollar climbs higher as investors await US jobs report
The US dollar climbed higher on the first trading day of the year as investors await a US jobs report on Friday. The dollar index - measured against six rival currencies fell 2% in 2023 but gained almost 0.16 percent as investors await possible US Fed rate cuts this year. The ascent weighed on the Japanese Yen the most with the Asian currency down 0.54 percent despite having slid 7 percent last year. Staying in Asia, Korea's Kospi stock index has reached its highest closing levels since June 2022 - climbing 0.6 percent. The biggest drivers of the gain were Samsung Electronics Co and SK Hynix - both semiconductor stocks. The rally comes as the Korean government banned short-selling in local equities in early November.
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