US dollar rises in volatile trade as jobs data delays Fed rate cuts

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US dollar rises in volatile trade as jobs data delays Fed rate cuts - Business Standard

Quick Summary:

The dollar index, which measures the U.S.currency against the yen, sterling and other peers, rose to as high as 108.02.It was last up 0.102% at 107.

Nonfarm payrolls increased by 143,000 jobs last month after rising by an upwardly revised 307,000 in December, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report.

Bessent said in an interview with Fox Business on Wednesday that, while Trump wants lower interest rates, he will not ask the Fed to cut rates, and that he and the president were intently focused on the 10-year Treasury yield.