|12-06-2014, 06:17 PM||#1|
U.S. dollar hits five-year highs against major currencies after jobs report
An astonishingly positive U.S. non-farm payrolls report sent the U.S. dollar to its highest level in over five years on Friday.
A report by the U.S. Labor Department showed the economy added more jobs in November than in any month since January 2012. Non-farm payrolls climbed 321,000 last month and beat estimates of 230,000. Unemployment was unchanged at a six-year low of 5.8%.
Bond prices in the U.S. fell, with the 2-year Treasury yield hitting the highest level since May 2011, as investors started betting the Federal Reserve would hike interest rates earlier than thought.
The massive jobs report sent the yield nearly 9 basis points higher. 10-year U.S. Treasury yield jumped 7.8 basis points to 2.312%.
The Dollar Index, which tracks the performance of the U.S. dollar against a basket of major currencies, hit its highest since March 2009, and climbed versus the Japanese yen to its highest levels since July 2007.
USD/JPY last traded at 121.520, up 1.46%.
The Dollar index was last at 89.35, compared with 88.61 late Thursday.
The Euro fell 0.7% to $1.22837.
This was the tenth straight month the economy added more than 200,000 jobs, marking the longest stint since 1994. This adds more proof the U.S. economy is withstanding the slowdown seen in most developed countries. China and the Eurozone are witnessing a worrying slowdown, and Japan went into recession this year.
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