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Strong US Jobs Pull Dollar, Bond Yields Out of Slump

Strong US Jobs Pull Dollar, Bond Yields Out of SlumpStrong US Jobs Pull Dollar, Bond Yields Out of Slump

The dollar, bond yields and US stock futures all rose on Friday, following stronger-than-expected US jobs data which also pointed to wage growth picking up in the world’s biggest economy.

It bolstered what was set to be a fourth straight week of gains for world stocks and metals, and helped lift some of the weight that has been on the dollar as a saga over Russian interference in last year’s US election has deepened, Reuters reported.

The US Labor Department said non-farm payrolls increased by 209,000 jobs last month amid broad gains across industries.

June’s employment gain was also revised up to 231,000 from an already strong 222,000, while hourly earnings rose 0.3% in July after rising 0.2% in June. That was the biggest increase in five months. It sent the dollar index - the dollar measured vs 6 other top world currencies - to a four-day high, pushing the euro back to $1.1829 and the Japanese yen to 110.59 per dollar.

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