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Dollar eases after weak US jobs, but Treasury yields rebound

Payroll growth missed expectations and wage growth slowed, yet Treasury yields reversed higher to end above Thursday’s levels.

Reported · Written up by our desk · Major Pairs

Forexlive’s FX wrap for Oct. 2 said the US employment report sparked an early market reaction that included lower Treasury yields, a weaker dollar, and higher stocks as traders scaled back expectations for another October Fed hike.

That bond-market move did not last, with yields reversing higher and ending above Thursday’s levels, while stocks held up better, including the Nasdaq 100 closing at a record.

The dollar ended lower against most major currencies despite the yield rebound. Forexlive reported the Australian dollar led gains versus the greenback, followed by the British pound and Swiss franc, while the Canadian dollar was an exception as USDCAD finished higher alongside lower oil prices.

Forexlive also highlighted a shift in USDJPY as the overall tone changed alongside the Treasury yield move.

Latest closeNasdaq Comp. 27,190.86 ▲1.2%

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