Saturday, November 27

The dollar hits a record for more than a year in the world after good employment data in the US


Nonfarm payrolls increased by 531,000 positions last month, due to the decline in COVID-19 infections during the summer, providing further evidence that economic activity is picking up steam early in the fourth quarter.

“If those numbers continue at that rate we are likely to see full employment at the end of the first quarter.”said Peter Cardillo of Spartan Securities.

The dollar index, which compares the greenback with a basket of six rival coins, It reached 94,634 units after the labor report, its maximum since September 25, 2020. In its last price, the dollar -which strengthened 1% in the past fortnight-, added 0.22%, to 94.534.

Investors were forced to change their expectations about monetary policy this week, after some of the biggest central banks scrambled bets on anticipated rate hikes.

The Bank of England’s decision on Thursday not to raise its interest rates from record lows turned out to be the biggest surprise to the markets and led to the biggest daily drop in the British pound in more than 18 months, down as much as 1, 6%.

The British pound extended its losses 0.5% on Friday, hitting a new one-month low of $ 1.34250. In its last operations it yielded 0.29%. The euro was 0.3% down at $ 1.15195, after losing 0.5% overnight.



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