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US Dollar Blazes Higher on Solid Data as Geopolitics Play Out. Where to for USD?

February 6, 2023

Via: DailyFX

The US Dollar continues to fight back after a blistering jobs report on Friday showed that the Fed might have more heavy lifting ahead to rein in inflationary pressures.

The ramifications of the massive beat of US total nonfarm payrolls (NFP) data continued to play out through the Asian session on Monday.

517k jobs were added in January according to the US Bureau of Labour Statistics, way above the 188k anticipated and last month’s read of 223k was also revised up to 260k. This put the unemployment rate at 3.4%, below the 3.6% forecast and 3.5% previously.

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