Dollar rises ahead of US monthly jobs report

The US dollar rose against a basket of currencies on Friday, rising for the third day in a row, as concerns over Omicron fade, while focus shifts on the Fed's bullish stance in monetary policy, ahead of US jobs data later today.

The dollar index rose 0.2% to 96.32 points, with an intraday low at 96.11, after rising 0.1% yesterday, following better-than-expected US weekly jobless claims reading.

The greenback is rising thanks to improved risk appetite as fears over Omicron variant faded, while focus shifts on the Fed's bullish stance in monetary policy, and the near interest rate hike.

South African scientists said the Omicron was first discovered last month, and that current vaccines should protect from extreme illness and death. While all the three cases in the US showed mild symptoms.

Otherwise, Fed San Francisco Governor Mary Dally said it's time to start planning for a rate hike to combat inflation.

Fed Chair Jerome Powell recently asserted they're preparing for a measure to cut bonds purchases in the December meeting. 

Now markets are fully pricing in a rate hike by 25 basis points in June 2022.

Investors await crucial US jobs report, expected to show an addition of 553 thousand in November, with unemployment down to 4.5%, and average income up 0.4%.