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The Economic Times

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EXPLAINED: Dollar jumps after strong us payrolls report | Vintage Vibes

United States Interest Rates Labor Department Inflation Euro US Dollar US Federal Reserve Bank of Japan British Pound Nasdaq

The US dollar index surged on Friday and was poised for its biggest daily percentage gain in nearly five months after a stronger-than-expected US payrolls report solidified expectations for a rate hike from the Federal Reserve next month.

The Labor Department said US nonfarm payrolls jumped by 165,000 jobs last month, topping the 65,000 estimate of economists polled by Reuters, after an upwardly revised 60,000 gain in September. The unemployment rate dipped to 4.1%.

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