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Dollar index holds near 102.30 after weak jobs data

The US Nonfarm Payrolls report showed only 29K jobs added, and the unemployment rate rose to 4.2%.

Reported · Written up by our desk · Major Pairs

The US Dollar Index, which tracks the Greenback versus a basket of currencies, held near the 102.30 area at the start of a new week after aggressive bids following a jobs-data-led pullback, FXStreet reported.

FXStreet said the US Nonfarm Payrolls report showed the economy added 29K jobs in September and the unemployment rate unexpectedly edged up to 4.2%.

The outlet added that softer wage growth reduced expectations for an October Federal Reserve rate hike and pulled US bond yields away from multi-year highs, though the dollar regained positive traction.

According to FXStreet, CME Group's FedWatch Tool still showed traders pricing in over an 85% chance of a US rate increase by the end of the year, with geopolitical uncertainties also cited as support for the dollar.

Latest closeDollar index 101.92 ▼0.2%

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