Economics
Dollar Rally Intact as Jobs Report Seen as No Roadblock for Fed
- Greenback posts weekly advance, reached highest since July
- Futures show 65 percent chance of Fed rate move by December
U.S. Adds 156,000 Jobs in Sept., Jobless Rate at 5.0%
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The dollar posted a weekly gain as below-forecast September jobs growth failed to temper the outlook for a Federal Reserve interest-rate increase by the end of the year.
The greenback weakened from a two-month high Friday after the Labor Department said the U.S. added 156,000 jobs, compared with a median forecast of 172,000 in a Bloomberg survey of economists, while the August jobs gain was revised higher. Futures indicate a 65 percent chance of central-bank policy tightening by its December meeting, up from 64 percent Thursday.