“If those numbers continue at that rate we are likely to see full employment at the end of the first quarter,” said Peter Cardillo of Spartan Securities.
The dollar index, which compares the greenback with a basket of six rival currencies, reached 94,634 units after the labor report, its highest since September 25, 2020.
Then the greenback changed trend and traded 0.1% lower at 94,234 units, although it added 0.1% for the week.
Major Wall Street indices closed at record highs on Friday and posted strong weekly gains, following US employment numbers and positive data on Pfizer’s experimental Covid-19 pill.
Investors were forced to change their expectations about monetary policy this week, after some of the biggest central banks scrambled bets on anticipated rate hikes.
The Bank of England’s decision on Thursday not to raise its interest rates from record lows turned out to be the biggest surprise to the markets and led to the biggest daily drop in the British pound in more than 18 months, down as much as 1, 6%.
The British pound hit a new one-month low of $ 1,34250. The euro was up 0.1% to $ 1.15635. Among cryptocurrencies, bitcoin was down 0.9% to $ 60,908.40.
Source From: Ambito
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