The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve interest rate cut.
Labor Department data showed that nonfarm payrolls increased by only 22,000 jobs last month, far short of the 75,000 positions estimated by economists polled by Reuters.
The dollar fell across the board following the report. It weakened 0.70% to 147.44 against the Japanese yen , but was still on track for the second straight week of gains. The greenback dropped 0.91% to 0.79830 against the Swiss franc and was poised for the fourth consecutive week of losses against the currency.
The euro was up 0.55% at $1.171675 and was set to notch a weekly gain against the dollar. The dollar index fell 0.48% to 97.767 and was set to shed 0.23% this week.
U.S. Treasury yields fell. The rate-sensitive 2-year note yield fell 8.1 basis points to 3.511%. The yield on benchmark U.S. 10-year notes fell 8.8 basis points to 4.088%.
Traders are now pricing a 10% chance of a 50-basis point cut at the Fed's next meeting later this month, while the probability of a 25-basis point cut is at nearly 90%, according to the CME's FedWatch tool.
The pound rose versus a weaker dollar after Friday's news that British Deputy Prime Minister Angela Rayner resigned, after admitting to underpaying property tax on a new home, in a fresh blow for her boss, Prime Minister Keir Starmer.
It strengthened 0.51% to $1.35055 and was on track to gain 0.02% for the week.
Source : Reuters
The U.S. dollar rose slightly higher Tuesday, stabilizing after recent banking-induced losses as the prospect of upcoming trade talks between the U.S. and China helped ease some concerns over a renewe...
The U.S. dollar edged higher Monday, rebounding after last week's losses although sentiment remains wary ahead of key inflation data and amid worries over the health of the U.S. regional banking secto...
The US dollar and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weak...
The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:...
The U.S. currency slipped lower following a speech by Jerome Powell on Tuesday, in which the Federal Reserve chair left the door open to further rate cuts by saying the U.S. labor market remained in t...
According to a poll by Reuters, 115 of 117 economists have predicted that the Federal Reserve (Fed) will reduce interest rates by 25 basis points (bps) to 3.75%-4.00% in the monetary policy announcement on October 29. For the entire year, the...
The U.S. dollar rose slightly higher Tuesday, stabilizing after recent banking-induced losses as the prospect of upcoming trade talks between the U.S. and China helped ease some concerns over a renewed trade war. The Dollar Index, which tracks the...
Gold extends its Asian session retracement slide from the vicinity of the all-time peak and touches a fresh daily low, around the $4,331-4,330 region in the last hour. The US Dollar attracts buyers for the third straight day, and turns out to be a...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
U.S. President Donald Trump said Monday he expects to reach a "fair trade deal" with Chinese President Xi Jinping and downplayed fears of conflict...