Reuters: US Dollar Report: GLOBAL MARKETS- U.S. jobs growth boosts dollar; shares, bonds fall

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

GLOBAL MARKETS- U.S. jobs growth boosts dollar; shares, bonds fall Nov 8th 2013, 14:07 By Richard Hubbard LONDON Fri Nov 8, 2013 9:07am EST LONDON Nov 8 (Reuters) - An unexpected surge in U.S. jobs growth during October boosted the dollar and sent U.S. Treasury bonds down on Friday by raising expectations the Federal Reserve could soon begin scaling back its stimulus. Employers shrugged off a government shutdown and added 204,000 new jobs to their payrolls last month, well above forecasts for 125,000 extra jobs, although the unemployment rate rose to 7.3 percent from September's 7.2 percent. "It's an impressively strong jobs number in the face of a government shutdown and underlying weakness in the U.S. economy," said Richard Franulovich, senior currency strategist at Westpac. "I have been dismissive of a December taper from the Federal Reserve, and now it looks like a possibility." Prices for U.S. Treasuries fell sharply after the data, reflecting fears of an early end to the Fed's $85 billion in monthly bond purchases, with the benchmark 10-year note shedding 27/32 in price to yield 2.712 percent. The prospect of higher U.S. yields gave the dollar an instant boost to reach a high of 98.70 yen, and send the euro to its day's low of $1.3355. U.S. stock index futures turned sharply lower as well, with the S&P 500 futures falling 4.5 points, to signal a weaker start on Wall Street. The Dow Jones industrial average contract lost 40 points. Link this Share this Digg this Email Print Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions