US Dollar Rose After Data on Labor Market
The US dollar strengthened, despite weak data on NFP employment. The Labor Department reported that the number of people employed in the non-agricultural sector fell by 33.000 last month. The unemployment rate in the US fell to 4.2%, from 4.4%, the lowest since December 2000. The average hourly earnings jumped 0.5% mom.
The British pound remains the weakest major currency for the week on the back of political uncertainty in the UK. The unemployment rate in Canada remained unchanged at 6.2%. Swiss foreign currency reserve hit record high of CHF 724B in September. German factory orders increased by 3.6% in August.