Sterling weakens 1% as bumper U.S. jobs report sends dollar rallying
Sterling stumbled against the dollar on Friday after a much larger-then-expected jump in U.S. jobs growth lifted the dollar as it drove bets that the Federal Reserve could opt for a bigger interest rate hike next month. The pound reversed earlier gains, falling as much as 1% on the day to a three-week low of $1.20. It was last down 0.8% at $1.21295. The U.S. Labor Department’s closely watched employment report showed nonfarm payrolls surged by 517,000 last month, blowing past expectations for an addition of 185,000 jobs. “This (NFP) ...
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