Dollar Hits 6-Month High as U.S. Jobs Data Shows 269,000 Gain
The US dollar strength keeps breaking records. Jobs data from December was better than expected. The dollar index went up to 109.99, the highest in two years. The euro and pound dropped to their lowest points in years. All this happened because the U.S. economy is doing well. Source: TradingEconomics Also Read: Cathie Wood’s Ark Invest Buys $8.6M of Amazon (AMZN) Stock How U.S. Dollar Strength Impacts Global Markets and Forex Trading Source: Watcher Guru Jobs Report Fuels Dollar’s Rally Source: BLS.gov The U.S. added lots of jobs in December. The jobless rate fell to 4.1%. This strong dollar impact changed how traders think about rate cuts. They now only expect one small cut in 2025. “With markets currently pricing in just over one rate cut by year-end, the reaction to the inflation print may be relatively measured,” stated Uto Shinohara, senior investment strategist at Mesirow Currency Management. Source: BLS.gov Global Currency Pressures Mount The euro went down by ...