The latest U.S. jobs data came in strong, boosting expectations for a Federal Reserve (Fed) rate hike in December and driving the dollar sharply higher on Friday (November 6). The Dollar Index (DXY) rose 0.77% to close at 102.26, marking its biggest single-day gain since June 17 this year.
According to the U.S. Department of Labor’s October nonfarm payrolls report released Friday, nonfarm payrolls grew by about 165,000, far exceeding the market expectation of 65,000; September’s job gains were also revised up from 29,000 to 60,000; and the unemployment rate fell from 4.2% to 4.1%. With the labor market showing steady performance, investors’ expectations for a Fed rate hike next month have accordingly risen.
At the close of trading in New York, the Dollar Index (DXY), which tracks the dollar against six major currencies, rose 0.77% to 102.26.
The latest currency quotes are as follows:
EUR/USD fell 0.7000% to 1.1141 dollars per euro.
GBP/USD fell 0.7700% to 1.3449 dollars per pound.
AUD/USD fell 1.0000% to 0.6863 dollars per Australian dollar.
USD/CAD rose 0.8100% to 1.4125 Canadian dollars per U.S. dollar.
USD/JPY rose 0.4400% to 158.48 yen per U.S. dollar.
