Dollar declines for third straight session

Economies.com
2018-12-10 12:39PM UTC

Dollar fell in European trade against a basket of major rivals on track for the third loss in a row following weak US labor data, which fanned doubts about the pace of Fed rate hikes in 2019. 

 

The dollar index shed 0.25% to 96.31, with a session-high at 96.66. 

 

The index closed down 0.1% on Friday, the second loss in a row after disappointing payrolls data. 

 

Across last week, the index shed 0.55%, the first weekly loss in three as 10-year US treasury yields tumbled to four-month lows. 

 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

 

The data sew doubts about the pace of policy tightening by the Federal Reserve in 2019, especially as the US economy faces internal and external risks that might hamper growth. 

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