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U.S. jobs and wages data surpass expectations, boosting dollar value

The dollar jumped on Friday after data showed US employers hired more than expected in April and wages also rose more than economists expected.

The dollar index rose to a session high of 101.77. The euro fell to $1.0967. The dollar jumped to 135.13 yen, while the pound sterling rose 0.09% to $1.2583.

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US companies added 253,000 jobs compared to economists’ expectations of a 180,000 increase, and average hourly wages rose 4.4% year on year, beating expectations for a 4.2% increase.

However, the March data was revised down to an increase of 165,000 jobs instead of an increase of 236,000 jobs as previously announced.
The dollar fell in September from its highest level in 20 years as investors brace for the possibility that the Federal Reserve (the US central bank) is in the process of ending its monetary tightening cycle and has begun cutting interest rates if the economy continues to contract. slow.

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