and that trend revealed that there is still a tight labor market in the northern country, which could lead the Federal Reserve (FED) to continue raising interest rates aggressively.
Following Friday’s data, fed funds futures traders raised bets that the Fed will raise rates. 25 basis points at the end of their two-day meeting on February 1.
The probability of a 25 basis point hike is now 67%, up from 54% previously, while that of 50 basis points is now 33%.
Consequently, the dollar falls after reaching its maximum price in almost a month this Friday, which is 105.12, and is located around the 103.79according to the index that measures the performance of the greenback against a basket of six currencies
Meanwhile, most of the world’s major currencies accumulated losses on Friday, after the dollar drove them to multi-week lows in the previous session.
Against him japanese yenthe dollar rose 0.7% to 134.58 yen, its highest level since the Bank of Japan changed its yield curve control policy on December 20 last year.
The euro climbs 1% to reach $1,062, after falling 0.8% in the previous session.
The markets now await the nonfarm payroll reportto be released later in the day, and economists polled by Reuters forecast the US economy will have added 200,000 jobs by December.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
