The dollar index, which measures the performance and strength of the greenback against a group of major rivals, fell more than 15%, to 59.33 points. This came after the disappointing US jobs report for September, which came in below expectations, and 10-year US Treasury yields rose to a seven-year high.<\/p>\n
The US economy created less-than-expected jobs in September, but however, unemployment hit its lowest level in 48 years, signaling the US economy is heading in the right direction. In terms of figures, US jobs in non-farm sectors rose to 134,000 jobs, below analysts’ expectations and markets at 185,000 jobs.<\/p>\n
However, the unemployment rate fell to 3.7%, the lowest level since 1969, average hourly earnings (a very important figure for measuring inflation) rose 2.9% year-on-year in September.<\/p>\n
Payroll gains in August were adjusted to 270,000 from 201,000, while for July the amount was adjusted to 165,000 from 147,000.<\/p>\n
In light of this data, expectations that the Federal Reserve will raise further interest rates at its next meeting in December rose slightly, to 77.8%. After the release of US economic data, the yield on the 10-year US Treasury Treasuries jumped to 3.227%, a record low since 2011.<\/p>\n
The Euro and the British Pound rallied after reports that the European Union and the UK reached the final negotiation stage of Britain’s exit from the EU. The euro rose against the US dollar by 0.11% and the EUR \/ USD pair traded at $1.1526 per euro, while the pound rose against the dollar by 0.45%, with GBP \/ USD at $1.3079 per pound.<\/p>\n
The greenback was down against the yen by 0.07%, with USD\/JPY at 113.81 yen per dollar on Friday. The Australian dollar also rose against the US dollar by 0.07%, with AUD \/ USD trading at 0.7079 US dollars per Australian dollar.<\/p>\n
The Canadian dollar rose after the Canadian employment rate came in much higher than expected, thus the USD \/ CAD pair dropped 0.03% to trade at 1.2926 Canadian dollar.<\/p>\n
However, the New Zealand dollar fell against the US dollar by 0.09% to trade at 0.6475 USD for the New Zealand dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"
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