Dollar hits 10-week highs, U.S. yields jump on strong wages data

Reuters/Jemima Kelly/10-06-17

The dollar rose to its strongest in 10 weeks on Friday and short-dated U.S. Treasury yields climbed to a nine-year high, after data showing the largest gain in U.S. wages since December 2016 bolstered bets on an interest rate hike by year-end.

…Though the headline payrolls figure showed a fall in U.S. employment in September for the first time in seven years, investors reckoned this was a temporary effect from Hurricanes Harvey and Irma, which left displaced workers temporarily unemployed and delayed hiring.

PG View: Hmmm, best wage data in 10-months, but the worst payrolls print in 7-years . . .

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