Thu, 30 Mar 2023

U.S. dollar jumps after strong jobs report

04 Feb 2023, 07:05 GMT+10

NEW YORK, Feb. 3 (Xinhua) -- The U.S. dollar soared in late trading on Friday after data showed U.S. job growth accelerated sharply in January.

The dollar index, which measures the greenback against six major peers, increased 1.16 percent to 102.9340.

In late New York trading, the euro was down to 1.0803 U.S. dollars from 1.0908 dollars in the previous session, and the British pound decreased to 1.2054 U.S. dollars from 1.2231 dollars in the previous session.

The U.S. dollar bought 131.06 Japanese yen, higher than 128.65 Japanese yen of the previous session. The U.S. dollar rose to 0.9258 Swiss francs from 0.9137 Swiss francs, and it increased to 1.3398 Canadian dollars from 1.3329 Canadian dollars. The U.S. dollar climbed to 10.5476 Swedish Kronor from 10.3746 Swedish Kronor.

U.S. employers added 517,000 jobs in January, crushing estimates, the Labor Department reported on Friday. The huge job growth was compounded by a new low in the unemployment rate, which fell from 3.5 percent to 3.4 percent, a new 54-year low.

The robust jobs report fueled expectations that the Federal Reserve will keep hiking rates, boosting the U.S. dollar.

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