India, Nov. 9 -- The U.S. Dollar extended gains against major currencies during the week ended November 6 amidst a massive spike in non-farm payrolls in the U.S. The better-than-expected jobs data increased the headroom available to the Federal Reserve to raise rates, bolstering the greenback. The payrolls-driven rally more than offset the dollar's decline that followed the midterm election results.
Key economic data releases in the past week, particularly the upbeat labor market update revealed a resilient U.S. economy. With markets anticipating a tighter monetary policy framework, the U.S. dollar inter alia rallied against the euro, the British pound, the Australian dollar, the Japanese yen, the Swedish krona and the Canadian dollar. It ...