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Weaker pound, retail stocks boosts FTSE 100; Mid-caps end best day in two-weeks;
Published at 22/04/2021 at 17:35 -
Solid earnings boost European stocks as ECB stands pat
Published at 22/04/2021 at 17:22 -
FTSE 100 rises on miners, industrials boost; Rentokil Initial slumps
Published at 22/04/2021 at 08:22 -
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Published at 22/04/2021 at 08:17 -
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Published at 21/04/2021 at 17:29 -
European shares rebound on strong earnings, M&A speculation boosts Hugo Boss
Published at 21/04/2021 at 17:17 -
FTSE 100 rises on boost from BP, Shell; Just Eat Takeaway slumps
Published at 21/04/2021 at 08:23 -
European stocks bounce back as ASML outlook lifts tech sector
Published at 21/04/2021 at 08:20
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FOREX-Euro and U.S. dollar waffle as markets weigh ECB policy talk
Published at 22/04/2021 at 15:52 -
FOREX-Euro inches higher ahead of ECB meeting, dollar languishes
Published at 22/04/2021 at 12:09 -
FOREX-Euro tiptoes higher ahead of ECB meeting
Published at 22/04/2021 at 09:12 -
FOREX-Dollar near multi-week lows as yield support fades, euro eyes ECB
Published at 22/04/2021 at 06:17 -
FOREX-Dollar loses bond yield support, euro looks to ECB for inspiration
Published at 22/04/2021 at 03:24 -
FOREX-Dollar stalls as yield gains slow, focus shifts to ECB
Published at 22/04/2021 at 02:03 -
FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 21:00 -
FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 17:51 -
FOREX-Dollar firm as COVID-19 resurgence dampens risk appetite
Published at 21/04/2021 at 15:25 -
FOREX-Dollar firm as COVID-19 resurgence hits reflation trades
Published at 21/04/2021 at 12:33
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PRECIOUS-Gold slips 1% as stronger U.S. dollar weighs
Published at 22/04/2021 at 19:15 -
Oil eases as Libya output decline offsets risks to Asian demand
Published at 22/04/2021 at 19:09 -
PRECIOUS-Gold slips from 2-month peak, palladium holds near record high
Published at 22/04/2021 at 13:20 -
PRECIOUS-Gold nears $1,800 level as U.S. dollar, yields lose ground
Published at 22/04/2021 at 08:25 -
Oil falls 3rd day on U.S. stock build, surging COVID-19 cases
Published at 22/04/2021 at 03:04 -
PRECIOUS-Gold hovers near eight-week high on easing U.S. dollar, yields
Published at 22/04/2021 at 02:37 -
Oil prices drop 2% on U.S. crude build, COVID-19 surge in India
Published at 21/04/2021 at 22:33 -
PRECIOUS-Supply woes push palladium to record high, gold up more than 1%
Published at 21/04/2021 at 18:54 -
PRECIOUS-Gold gains as easing U.S. Treasury yields boost appeal
Published at 21/04/2021 at 14:04 -
PRECIOUS-Gold gains as softer U.S. dollar, yields lift appeal
Published at 21/04/2021 at 08:11
FOREX-Dollar jumps as U.S. jobs growth beats expectations
(New throughout, updates prices, changes byline, dateline; previous LONDON)
* Graphic: World FX rates
By Karen Brettell
NEW YORK, March 5 (Reuters) - The dollar jumped on Friday after data showed jobs growth beat expectations in February, backing up the view of Federal Reserve officials who have said that a recent rise in U.S. government bond yields is justified by an improving economic outlook.
The jobs improvement came amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting the labor market recovery back on firmer footing and on course for further gains in the months ahead.
Nonfarm payrolls surged by 379,000 jobs last month, after rising 166,000 in January. In December, payrolls fell for the first time in eight months. Economists polled by Reuters had forecast February payrolls increasing by 182,000 jobs.
"This is a rather impressive nonfarm payroll report," said Edward Moya, senior market analyst at OANDA in New York. "There's momentum in the labor market and what that’s doing is providing I think more optimism that the growth picture is looking even better."
A rollout of COVID-19 vaccines and impending U.S. fiscal stimulus have boosted confidence in an economic recovery, adding fuel to expectations of higher inflation.
The dollar index jumped as high as 92.201, the highest since Nov. 25, before retracing back to 91.906, still up 0.30% on the day. The euro fell as low as $1.1892, the lowest since Nov. 26, before bouncing back to $1.1924, down 0.40% on the day.
Benchmark 10-year Treasury yields hit a one-year high of 1.625%, and were last at 1.599%.
The jobs data comes after Fed Chairman Jerome Powell on Thursday disappointed investors who were expecting him to express concerns about rising bond yields.
Powell stuck to his stance of keeping interest rates low until the economy has recovered, adding that the sell-off in Treasuries was not "disorderly".
"The U.S. dollar rose sharply higher post-Powell comments (as) many in the market I sense were looking for stronger rhetoric from the Fed to put a break on further rallies in yields," said Neil Jones, head of FX sales at Mizuho Bank.
The Swiss franc and Japanese yen continued to weaken against the greenback on Friday on expectations that global growth will lag that of the United States.
The Swiss franc fell to a seven-month low of 0.9310 francs per dollar, before rebounding to 0.9283.
The yen plumbed a nine-month low of 108.63 yen per dollar, before bouncing back to 108.37.
Risky currencies including the Australian dollar also weakened against the greenback. The Aussie was last down 0.37% at $0.7692. It has dropped from a three-year high of $0.8007 last week.
Sterling briefly fell below $1.38 to a three-week low. It was last down 0.44% at $1.3835.
In the cryptocurrency market, bitcoin fell 0.43% to $48,150. Ethereum dropped 2.97% to $1,492.03.
========================================================
Currency bid prices at 9:47AM (1447 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 91.9060 91.6420 +0.30% 2.139% +92.2010 +91.6210
Euro/Dollar $1.1924 $1.1973 -0.40% -2.40% +$1.1977 +$1.1893
Dollar/Yen 108.3650 107.9400 +0.31% +4.83% +108.6400 +107.8250
Euro/Yen 129.22 129.25 -0.02% +1.81% +129.5700 +128.9000
Dollar/Swiss 0.9283 0.9288 -0.05% +4.93% +0.9311 +0.9258
Sterling/Dollar $1.3835 $1.3897 -0.44% +1.27% +$1.3906 +$1.3779
Dollar/Canadian 1.2657 1.2667 -0.07% -0.60% +1.2736 +1.2647
Aussie/Dollar $0.7692 $0.7721 -0.37% -0.01% +$0.7727 +$0.7624
Euro/Swiss 1.1067 1.1119 -0.47% +2.41% +1.1125 +1.1056
Euro/Sterling 0.8616 0.8612 +0.05% -3.59% +0.8651 +0.8603
NZ $0.7158 $0.7186 -0.40% -0.33% +$0.7193 +$0.7100
Dollar/Dollar
Dollar/Norway 8.5305 8.5795 -0.41% -0.50% +8.6290 +8.5095
Euro/Norway 10.1695 10.2706 -0.98% -2.84% +10.3076 +10.1630
Dollar/Sweden 8.5341 8.4909 +0.08% +4.12% +8.5668 +8.4834
Euro/Sweden 10.1766 10.1683 +0.08% +0.99% +10.1995 +10.1616
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Additional reporting by Joice Alves and Ritvik Carvalho in London; Editing by Alex Richardson)
((karen.brettell@thomsonreuters.com))