Dollar reverses higher as markets speculate about interest rates

The dollar rose against most major rivals on Monday after stabilizing earlier in the session.

It came after Wall Street recouped following weak US payrolls data on Friday, which showed the anti-inflation policies by the Fed are bearing fruits, in turn paving the way for policy tightening soon.

Thus investors now expect nearly two interest rate cuts by the Federal Reserve this year. 

On trading, the dollar index rose 0.1% as of 21:42 GMT to 105.1, with a session-high at 105.2, and a low at 104.8.

Loonie 

The Canadian dollar rose 0.2% as of 21:52 GMT against the US dollar to 0.7318. 

Aussie

The Australian dollar rose 0.2% against its US counterpart to 0.6626.