Dollar Surges as Strong U.S. Payrolls Fuel Fed Hike Bets
The U.S. dollar jumped sharply after a Labor Department report showed employers added 165,000 jobs last month, well above economists’ expectations and enough to reinforce the view that the American labour market remains resilient. Traders quickly lifted the odds of a Federal Reserve rate hike next month to nearly 80%, while remarks from Fed officials on persistent inflation added further support to the greenback and pressured the euro and sterling.
