US dollar tumbles to fresh post-Trump low after payrolls miss

FT/Mehreen Khan/06-02-17

The US dollar slipped to its lowest since the election of Donald Trump last November after a miss in the country’s job creation numbers in May.

At publication time, the dollar index was down 0.52 per cent against a basket of its major trading peers at 96.720 – the weakest since president Trump’s election.

The dollar was holding steady before the payrolls report which showed the US economy added 138,000 jobs last month (forecast: 185,000). Still May’s growth was enough to push the US’s overall unemployment rate from 4.4 per cent to 4.3 per cent – the lowest since 2001.

PG View: And gold is setting new 5-week highs.

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