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FOREX-Dollar dips after jobs report, wage growth below expectations

Reuters · 01/06/2023 08:56
FOREX-Dollar dips after jobs report, wage growth below expectations

Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

Recasts with jobs data, adds quotes, details; updates prices; changes byline; previous LONDON

By Karen Brettell


- The dollar pared earlier gains after U.S. jobs data for December showed employers added 223,000 jobs in the month, more than economists’ forecasts, while wage growth was slightly less than expected.

Economists had expected 200,000 jobs would be added. Wages grew by 0.3% last month, below forecasts of 0.4%.

The data may reduce the odds that the Federal Reserve will hike interest rates by another 50 basis points month.

The dollar was last up 0.09% on the day against a basket of currencies =USD at 105.19, after earlier reaching 105.63, the highest since Dec. 7.

The euro EUR=EBS was little changed on the day at $1.0521, and the dollar was up 0.25% against the Japanese yen JPY=EBS at 133.70.

Fed funds futures traders increased bets the Fed will hike rates by 25 basis points at the conclusion of its two-day meeting on Feb. 1 to 67% from 54% before the data, with a 50 basis point hike only seen as a 33% probability. FEDWATCH

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Currency bid prices at 8:43AM (1343 GMT)

Description

RIC

Last

U.S. Close
Previous
Session

Pct Change

YTD Pct
Change

High Bid

Low Bid

Dollar index

=USD

105.1900

105.1200

+0.09%

1.643%

+105.6300

+105.0100

Euro/Dollar

EUR=EBS

$1.0521

$1.0521

+0.00%

-1.82%

+$1.0537

+$1.0482

Dollar/Yen

JPY=EBS

133.6950

133.4100

+0.25%

+2.01%

+134.7650

+133.2800

Euro/Yen

EURJPY=

140.71

140.36

+0.25%

+0.29%

+141.4400

+140.2400

Dollar/Swiss

CHF=EBS

0.9370

0.9363

+0.17%

+1.42%

+0.9407

+0.9354

Sterling/Dollar

GBP=D3

$1.1897

$1.1908

-0.11%

-1.64%

+$1.1935

+$1.1842

Dollar/Canadian

CAD=D3

1.3575

1.3568

+0.06%

+0.20%

+1.3664

+1.3539

Aussie/Dollar

AUD=D3

$0.6765

$0.6752

+0.17%

-0.78%

+$0.6788

+$0.6722

Euro/Swiss

EURCHF=

0.9859

0.9851

+0.08%

-0.36%

+0.9883

+0.9849

Euro/Sterling

EURGBP=

0.8842

0.8835

+0.08%

-0.02%

+0.8870

+0.8823

NZ Dollar/Dollar

NZD=D3

$0.6240

$0.6223

+0.23%

-1.76%

+$0.6254

+$0.6193

Dollar/Norway

NOK=D3

10.2440

10.2595

+0.00%

+4.53%

+10.3005

+10.2300

Euro/Norway

EURNOK=

10.7800

10.7654

+0.14%

+2.73%

+10.8140

+10.7540

Dollar/Sweden

SEK=

10.6919

10.6804

+0.18%

+2.73%

+10.7479

+10.6565

Euro/Sweden

EURSEK=

11.2492

11.2290

+0.18%

+0.89%

+11.2924

+11.2268



(Editing by Jan Harvey)

((karen.brettell@tr.com))