US Jobs Surge Boosts Dollar and Rate Hike Odds

dn.se (Swedish) —

Unexpectedly strong US October jobs data boosted the dollar and market interest rates, increasing the likelihood of another Federal Reserve rate hike in December. The report showed more new jobs than expected and lower unemployment, causing immediate market impact. The two-year Treasury yield rose 0.06 percentage points to 4.53 percent, while the dollar strengthened to 9.90 Swedish kronor. Clark Bellin of Bellwether Wealth called the report a relief, indicating the labor market can still create jobs despite high interest rates.


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