The world's reserve currency climbed against its major peers on Friday after the U.S. Labor Department released data noting job creation last month was stronger than forecast, Bloomberg reports.
Trumping projections of 120,000, the labor market last month advanced by 204,000, despite a 16-day partial shutdown of the federal government that ended in mid-October. The jobs data spurs speculation that the central bank of the U.S. will reduce stimulus policy.
"It fits into our view that the Fed may be in the process of considering starting to pull back on purchases, in our view in January," foreign-exchange strategist Ian Gordon with Bank of America Corp. in New York told the news source. "There's definitely cause for caution when reading into the data, but at the same time it's our best gauge at this point over where the labor market is, given the importance of jobs data has on the Fed."
The U.S. dollar rose roughly 0.4 percent against the common currency of the European Union and about 0.7 percent against the Japanese yen.
Though job-creation figures were strong, the country's unemployment rate rose to 7.3 percent after registering at 7.2 percent in September, according to Reuters.
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