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The dollar surged by the most in six weeks and Treasuries fell after hiring data from last month came in stronger than forecast, underpinning the case for tighter monetary policy. The Dow Jones Industrial Average rose a ninth straight day to close at a record.
The greenback averted a fourth straight weekly slide after government figures showed employers added workers at a solid clip and wage growth picked up in July. The S&P 500 Index ended one point below an all-time high to cap a weekly gain, while the Dow’s winning streak is the longest since February, as the weak dollar boosts megacaps. The 10-year Treasury yield rose as the notes pared a weekly advance. Oil trimmed a weekly loss, while gold slumped.
Broad-based hiring in July along with stronger household incomes and buoyant consumer confidence may give the Federal Reserve reason to raise interest rates later this year as it seeks to normalise monetary policy. The dollar’s bounce propelled it higher from the lowest since 2015 as investors sought faster growth in economies outside the US Markets meanwhile continued to shrug at mounting signs that President Donald Trump’s policy agenda has run aground, with assets from stocks to the dollar largely looking past reports Thursday that Special Counsel Robert Mueller’s probe into Russia’s meddling in the 2016 election has intensified.
he risk of a no-deal Brexit is playing on investors’ minds. The European Union is likely to confirm this week that Brexit talks have not made sufficient progress to move onto discussions about a fut
World stocks advanced for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar was on course for its worst week in five as investors awaited US inflation dat
October blues are starting to weigh on the pound — again. Sterling is headed for its worst week in a year as questions swirl about whether Theresa May will stay or go, even as the prime minister sai
Most major currencies will hold on to their gains made in 2017 against the dollar over the coming year, according to a Reuters poll of currency strategists who were not entirely convinced of the U.S.
The dollar extended gains to an almost three-month high and Treasury yields rose as confidence in the world’s largest economy grows in the buildup to the latest jobs data. European shares edged lower