FOREX-Dollar stands tall as global growth momentum fades

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The dollar erased all losses sustained after last week’s poor U.S. jobs report and extended gains versus its rivals on Monday as concerns about slowing global growth boosted its safe-haven appeal in a big week for central banks. The dollar index, which measures the currency against six rivals, edged 0.2% higher to 92.31. It had dipped to 91.941 for the first time since Aug. 4 on Friday, when a closely watched U.S. labour report showed the world’s largest economy created the fewest jobs in seven months in August.

While the weak jobs report doused expectations the Fed might strike a hawkish note at a meeting later this month, analysts said the data is yet another reminder of global growth losing steam after a bounce earlier this year, a significant headwind for cyclical currencies like the euro and the Aussie. Economic surprise indexes from the United States to China have slipped sharply in recent weeks while latest manufacturing surveys from

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