Strong Payrolls Report Reignites Dollar Rally
The US created more jobs than expected in December, putting renewed momentum behind Treasury yields and the dollar. According to data just released by the Bureau of Labor Statistics, 256,000 jobs were added in the month—solidly topping the 165,000-position consensus forecast—and the unemployment rate held at 4.1 percent, suggesting that underlying labour market conditions remained strong. November’s number was revised down to 212,000 from the 227,000 previously estimated, and average hourly earnings climbed 0.3 percent month-over-month, meeting expectations in slowing slightly from the 0.4-percent pace set in the prior month. The dollar is climbing and Treasury yields are spiking higher...