Sterling likewise fell against the dollar, down 0.2 per cent at $1.2412.Īnalysts also said that while the jobs report showed strong gains, there are sectors that have seen moderate declines specifically the manufacturing and construction industries. The greenback gained 0.2 per cent versus the Swiss franc to 0.9049 francs. Against the yen, the dollar was up 0.3 per cent at 132.10 yen while the euro was 0.1 per cent weaker at $1.0910. In afternoon trading, the dollar index rose 0.1 per cent to 102.03. Some European markets are also closed on Monday. Liquidity has thinned in the hours following the release of the jobs number ahead of the Easter weekend. 'That said, recent data would suggest that the economic risk backdrop is turning more negative - if inflation and retail sales numbers disappoint in coming weeks, all bets are off,' he added. 'Federal Reserve officials are likely to continue delivering their higher-for-longer message in the run-up to the May policy meeting, supporting expectations for a final rate hike and putting a floor under the dollar,' said Karl Schamotta, chief market strategist at Corpay in Toronto. Average hourly earnings, which reflect wage inflation, rose 0.3 per cent in March after gaining 0.2 per cent in February. The unemployment rate fell to 3.5 per cent from 3.6 per cent in February. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported.

nonfarm payrolls increased 236,000 in March, in line with forecasts of 239,000. The market has now priced in a 70 per cent chance the Fed will raise interest rates by 25 basis points (bps), though multiple rate cuts have also been factored in by the end of the year.įriday's data showed U.S. Prior to the jobs report, the rate futures market had been betting that the Fed would pause at the May policy meeting. NEW YORK : The dollar strengthened on Friday after data showed an increase in jobs in the world's largest economy last month, suggesting that the Federal Reserve may have to raise interest rates next month.

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