A widely used measure of the dollar’s value rose to a three-year high Friday after stronger-than-expected June U.S. jobs data reinforced expectations the Federal Reserve will move sooner rather than later to begin slowing the flow of monetary stimulus to the economy.
The ICE dollar index DXY, which measures the U.S. unit against six other major currencies, rose to 84.434, up from 83.291 late Thursday in North America. On a closing basis, that’s its highest in three years, according to FactSet.
