Dollar Gains Momentum: Surpassing Expectations Amid Job Growth

The U.S. dollar surged against key global currencies on Friday, driven by unexpectedly strong jobs growth data for May, suggesting a delay in potential interest rate cuts by the Federal Reserve. Despite a slowdown from April, job additions surpassed forecasts, boosting the dollar's value.

The U.S. currency appreciated 0.84% against the Japanese yen and 0.33% against the Swiss franc, extending its weekly gains. However, it remains down year-to-date against these currencies. Analysts cite recent economic uncertainties, including tariff policies and spending plans, as factors previously weighing on the dollar.

Nevertheless, stronger economic indicators, such as the robust jobs report, are shifting market sentiment. Investors are reconsidering their positions against the dollar as tariff tensions with China ease. Consequently, the euro slipped further against the dollar, marking increased competition in currency exchanges.

(With inputs from agencies.)