(Bloomberg) -- Currency traders are going back to basics, set to watch the performance of the U.S. economy more closely than political events to discern the dollar’s direction.
A gauge of the greenback posted a weekly gain as a report showed the U.S. June jobs growth exceeded forecasts by more than 100,000, raising the likelihood of a Federal Reserve interest-rate increase this year. Investors in the $5.3-trillion-a-day currency market will parse inflation and retail sales data next week for more signs that the economy can withstand higher borrowing costs.
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