Reported 8 months ago
The dollar strengthened against the euro and most major currencies on Friday, bouncing back from earlier weaknesses after a U.S. jobs report revealed a sharp slowdown in job growth for October. Despite nonfarm payrolls rising only 12,000 jobs, the unemployment rate remained steady at 4.1%, indicating a resilient labor market. Traders are now focusing on the uncertainties surrounding the upcoming U.S. presidential election and the Federal Reserve's potential interest rate cut, with a 99% chance projected for a cut in the next meeting. The dollar index rose to 104.24.
Source: YAHOO