• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Dollar weakens after U.S. payrolls miss

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

(Corrects to show euro high of 1.1909, not 1.909)

By Chuck Mikolajczak

NEW YORK (Reuters) – The dollar weakened further against a basket of major currencies on Friday after a much softer than expected U.S. payrolls report that is likely to keep the Federal Reserve on hold in scaling back its massive stimulus measures.

Nonfarm payrolls increased by 235,000 in August, well short of the 728,000 forecast by economists in a Reuters poll, while the unemployment rate dipped to 5.2% from 5.4% in the prior month.

The dollar index dropped to a low of 91.941, its lowest level since Aug. 4, and was last down 0.102% at 92.133.

The dollar has been subdued on uncertainty over the path of Fed policy. Fed chair Jerome Powell said last Friday that while tapering of its stimulus could begin this year if job growth continues, the central bank was in no hurry to do so.

Rising COVID-19 cases in recent weeks have brought on concerns the economic recovery could stall. The jobs data will likely keep the Fed on hold.

“It’s the ultimate air cover, this is true air cover, they don’t have to do anything for a while,” said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

“There is absolutely no reason for (Powell) to do anything with this except to say I told you so, and it certainly makes the September meeting a lot less climactic.”

The euro strengthened against the greenback following the report, touching a high of 1.1909 to match its best level since July 30.

The single currency has been supported by data earlier this week that showed regional inflation at a decade high and hawkish comments from European Central Bank officials ahead of a policy meeting on Sept. 9.

The euro was last up 0.08% at $1.1882.

The Japanese yen strengthened 0.15% versus the greenback to 109.76 per dollar, gaining ground after the jobs data, but showed little reaction to Prime Minister Yoshihide Suga’s decision to step down at the end of the month.

(Reporting by Chuck Mikolajczak; Editing by Emelia Sithole-Matarise)

Source Link Dollar weakens after U.S. payrolls miss

David Barret
David Barret

Related posts:

  1. Islamic State ‘Beatle’ to plead guilty to U.S. terrorism charges
  2. With a little help from their friends: how The Sims 4’s community has helped shape the game
  3. Pancake aims to make customers flip for its virtual home design platform
  4. Best cordless vacuum 2021: The top models for pet hair and hardwood floors we’ve tested

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Hippos Hung Around In Europe 80,000 Years Later Than We Thought
  • Officially Gone: Slender-Billed Curlew, Once-Widespread Migratory Bird, Declared Extinct By IUCN
  • Watch: Rare Footage Captures Freaky Faceless Cusk Eels Lurking On The Deep-Sea Floor
  • Watch This Funky Sea Pig Dancing Its Way Through The Deep Sea, Over 2,300 Meters Below The Surface
  • NASA Lets YouTuber Steve Mould Test His “Weird Chain Theory” In Space
  • The Oldest Stalagmite Ever Dated Was Found In Oklahoma Rocks, Dating Back 289 Million Years
  • 2024’s Great American Eclipse Made Some Birds Behave In Surprising Ways, But Not All Were Fooled
  • “Carter Catastrophe”: The Math Equation That Predicts The End Of Humanity
  • Why Is There No Nobel Prize For Mathematics?
  • These Are The Only Animals Known To Incubate Eggs In Their Stomachs And Give “Birth” Out Their Mouths
  • Constipated? This One Fruit Could Help, Says First-Ever Evidence-Led Diet Guidance
  • NGC 2775: This Galaxy Breaks The Rules Of “Galactic Evolution” And Baffles Astronomers
  • Meet The “Four-Eyed” Hirola, The World’s Most Endangered Antelope With Fewer Than 500 Left
  • The Bizarre 1997 Experiment That Made A Frog Levitate
  • There’s A Very Good Reason Why October 1582 On Your Phone Is Missing 10 Days
  • Skynet-1A: Military Spacecraft Launched 56 Years Ago Has Been Moved By Persons Unknown
  • There’s A Simple Solution To Helping Avoid Erectile Dysfunction (But You’re Not Going To Like It)
  • Interstellar Object 3I/ATLAS May Be 10 Billion Years Old, This Rare Spider Is Half-Female, Half-Male Split Down The Middle, And Much More This Week
  • Why Do Trains Not Have Seatbelts? It’s Probably Not What You Think
  • World’s Driest Hot Desert Just Burst Into A Rare And Fleeting Desert Bloom
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version