Dollar Drops Most in 8 Weeks as Jobs Data Cool Fed Taper Views
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The dollar fell the most in more than eight weeks after U.S. employers added fewer workers last month than forecast, damping speculation the Federal Reserve will cut bond purchases this month.
The U.S. currency weakened versus a majority of its 16-most-traded counterparts after a Labor Department report showed payrolls rose by 169,000 in August, compared with a median forecast of 96 economists surveyed by Bloomberg that called for a 180,000 jobs gain. The U.S. jobless rate fell to 7.3 percent. Canada’s dollar rose to the highest level in more than two weeks as the nation added jobs last month at triple the pace forecast.