Currencies: Dollar gains as jobs data set the stage for 2016 rate hike

The dollar advanced against major rivals on Monday, drawing continued support from last week’s strong U.S. jobs report.

The greenback USDJPY, +0.51% changed hands at ¥102.36 against its Japanese counterpart after touching a high of ¥102.47. That compared with ¥101.81 late Friday in New York.

The WSJ Dollar Index BUXX, +0.04% a measure of the dollar against a basket of major currencies, was up modestly at 86.89.

As the dollar gained, U.S. stocks were expected higher and oil futures rallied on a fresh push for an OPEC production freeze deal.

But the primary driver remained economic fundamentals that set the dollar apart from its rivals.

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