Dollar Sturdy After 4 Consecutive Weeks of Advances

Read MoreThe dollar consolidated gains against its rivals on Monday after four consecutive weeks of increases as widening concerns about the Chinese property sector and firm U.S. Treasury yields have encouraged hedge funds to ramp up their long positions. After spending the second quarter of 2021 on the back foot the dollar has received a fresh boost in recent weeks, climbing to its highest levels in a year against its rivals last week as top investment banks have revised up their forecasts. Every other major currency weakened against the greenback last week with traders now firmly eyeing on the U.S. jobs data for September due on Friday to decide on whether the Fed will press the button on its decision to taper its bond purchases. “The dollar’s recent gains boil down to three sources: bets that the Fed will begin its rate hike campaign next year, investors searching for shelter from …