{
  "id": 18636929,
  "title": "Dollar jumps after strong US payrolls report",
  "url": "https://urgent.news/2026/11/07/dollar-jumps-after-strong-us-payrolls-report",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-07T04:11:35.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/forex/forex-news/dollar-jumps-after-strong-us-payrolls-report/articleshow/135626197.cms"
  },
  "original_language": "en",
  "account": "The US dollar index reached a peak on Friday, marking its largest daily percentage gain in nearly five months following a stronger-than-anticipated US payrolls report. This report reinforced the belief that the Federal Reserve would likely raise interest rates next month. The Labor Department reported that US nonfarm payrolls increased by 165,000 jobs in the previous month, surpassing the 65,000 estimate predicted by economists. The unemployment rate declined to 4.1%.\n\nThe surge in the dollar index, which gauges the greenback's performance against a basket of currencies, was 0.77% to 102.26, with the euro experiencing a significant drop of 0.67% to $1.11437. Over the week, the dollar increased by 0.3%, while the euro was down 0.1%, on track for its third consecutive weekly decline.\n\nPrior to the employment data, the dollar had been supported by demand for safe-haven assets due to the worldwide sell-off in AI stocks. However, once the market opened, the Nasdaq rallied more than 1%, recovering from earlier losses. Treasury yields rose in response to the employment data, with the 10-year yield climbing to 4.85% and the 2-year yield increasing to 4.52%.\n\nFederal Reserve officials' comments on Friday bolstered the likelihood of an interest rate hike. New York Federal Reserve President John Williams stated that US economic growth had remained robust despite multiple shocks, but inflation was too high and must be brought down to 2%. Similarly, St. Louis Federal Reserve President Alberto Musalem emphasized that inflation remained a primary concern in his discussions with businesses in the Midwestern district. Federal Reserve Bank of San Francisco President Mary Daly suggested that the Fed may need to raise rates further, even after the recent AI stock sell-off.",
  "summary": "The US dollar index jumped significantly following the Labor Department's report indicating an increase of 165,000 jobs last month, which far exceeded economists' forecasts. As a result, the probability of a rate hike from the Federal Reserve climbed to nearly 80% for next month. Moreover, Federal Reserve officials voiced concerns about ongoing inflation, leading to declines for other currencies…",
  "key_points": [
    "US dollar index hits 5-month high after strong payrolls report",
    "US added 165,000 jobs in July, beating 65,000 estimate",
    "Fed likely to raise rates next month based on employment data"
  ],
  "editors_take": "Stronger-than-expected employment data forces a shift in market expectations toward higher interest rates, strengthening the greenback while placing significant downward pressure on the euro and other major currencies.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}