Dollar Snaps Two-Week Losing Streak as Hedge Funds Grow Bullish

(Reuters) The dollar edged higher on Monday, breaking a two-week losing streak as strong U.S. jobs data propped up the greenback in a market broadly cautious on the outlook for risky assets. With much of Asia out on holidays this week, the dollar also took heart from the recently concluded trade talks between China and the United States with the dollar set for its biggest two-day rising streak against the yuan in a year. A U.S. Labor Department report on Friday showed nonfarm payrolls jumped by a 304,000 jobs last month, exceeding forecasts and the largest gain since February 2018.

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