Dollar Strengthens After Robust U.S. Jobs Data
The dollar rose against major currencies after May's U.S. jobs data showed better-than-expected growth. Despite a slowdown from April, the Federal Reserve may delay cutting interest rates. The dollar gained against the yen and Swiss franc, while the euro declined against it.
The U.S. dollar gained strength against leading global currencies following the release of robust employment data in May, despite a noted deceleration from April's figures. This data indicates potential delays in any rate cuts by the Federal Reserve.
The Labor Department reported an addition of 139,000 jobs in May, surpassing the expectations of 130,000 but falling short of April's 147,000 figure. This positive surprise in job numbers provided a boost to the greenback.
In currency markets, the dollar rose by 0.79% against the yen and 0.48% against the Swiss franc. Meanwhile, the euro dropped by 0.4% to trade at $1.1399 against the dollar, further bolstering the greenback's dominance.
(With inputs from agencies.)
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