Dollar Jumps Most in Year as Job Gains Show U.S. Recovery
This article is for subscribers only.
The dollar rose the most in more than a year as a U.S. jobs report exceeded all forecasts, highlighting a growing gulf between the world’s largest economy and other developed nations.
The euro sank the most since September as two European Central Bank officials said policy makers may consider broad-based asset purchases in January. The yen weakened beyond 120 per dollar for the first time since July 2007 before elections Dec. 14. Hedge funds and other large speculators bet the dollar’s rally will continue, pushing wagers on it versus eight major peers to a record. A measure of U.S. consumer confidence due next week is forecast to rise to a seven-year high.