Investing.com – The U.S. dollar fell on Friday after the September jobs report came in lower than expected and 10-year Treasury yields rose to a seven-year high.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.15% to 95.329 as of 9:05 AM ET (13:05 GMT).
The U.S. economy created less jobs than expected in September, but unemployment reached a 48-year low, indicating the economy could be plateauing.
Nonfarm payrolls rose by 134,000 compared to expectations for a 185,000 gain.
Payroll gains for August were revised to 270,000 from the 201,000 initially reported, while July was revised up to 165,000 from 147,000. The unemployment rate fell to 3.7%, a level not seen since 1969. Average hourly earnings, an important number to gauge inflation, rose 2.8% year over year in September.
Meanwhile expectations for a Federal Reserve rate increase in December rose slightly to 77.7%.