The dollar rose on Friday after the strength of the US jobs report for September, which hints at the possibility of the Federal Reserve raising interest rates again this year.
The data showed us non-farm payrolls rose by 336,000 jobs last month. The August data was revised upwards to show that 227,000 jobs were added Instead of 187,000.
Economists in the “Witters” survey predicted a rise in jobs in September by 170,000 jobs.
The dollar index rose by 0.6% to 106.96, while the US currency rose against the yen by 0.75 to 149.46.
Simon Harvey, head of exchange rate analysis at Monex Europe, said: “today’s strong jobs data and the upward revision of the August data confirm the difficulty of selling the dollar in such a strong macroeconomic environment.
The report said the economy added an average of 266,000 jobs a month over the past three months.
The data also showed that the unemployment rate has stabilized at 3.8%.
The labor market has defied a host of risks this year, in particular rising inflation and a rapid series of Fed rate hikes aimed at curbing inflation.
Although the Fed’s rate hike has made loans more expensive, stable job growth has boosted consumer spending and kept the economy growing.
