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  • Reuters

    FOREX-Dollar extends U.S. jobs data bounce; yen slips

    The dollar rose to a three-week high against the euro on Monday, as Friday's blockbuster U.S. jobs report raised the likelihood of the U.S. Federal Reserve keeping on with its inflation-fighting interest rate hikes for longer. "Friday's NFP (nonfarm payroll) number solidified the likelihood of another 25 basis points hike and reduced the chances of an eventual rate cut at the end of the year, sending equities lower and the greenback soaring," said John Doyle, vice president of operations and trading at Monex USA. On Friday, data showed U.S. job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4%, pointing to a stubbornly tight labor market, and a potential headache for Federal Reserve officials as they fight inflation.

  • Reuters

    FOREX-Dollar surges on robust U.S. jobs data, while lira, yen slump

    The dollar surged to a three-week high against the euro on Monday, with traders expecting the U.S. Federal Reserve to lift its benchmark rate above 5% to squeeze inflation after data showed the labour market remains strong. An earthquake in central Turkey and northwest Syria and a strong U.S. dollar added pressure on emerging currencies sending Turkey's lira to a record low of 18.85 against the dollar. The Fed on Wednesday raised rates by 25 basis points and said it had turned a corner in the fight against inflation, leading investors to price in a slowdown in the pace of rate hikes going forward.

  • Reuters

    FOREX-Dollar steady after robust U.S. jobs data, yen wobbles

    The Nikkei newspaper reported, citing anonymous government and ruling party sources, that Prime Minister Fumio Kishida's administration was in the final stages of deciding on current governor Haruhiko Kuroda's successor along with two new deputy governors. In a news conference on Monday, Deputy Chief Cabinet Secretary Yoshihiko Isozaki said there was no truth to the Nikkei report. "Amamiya has helped Kuroda since 2013 on monetary policies, and is considered the most dovish among the contenders, which is thrashing hopes that BOJ policy normalization could progress under the new chief," Saxo Markets strategists said.

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