The U.S. dollar extended its slide against major currencies on Tuesday after the release of delayed U.S. data showing stronger-than-expected job gains, a development that could temper the Federal Reserve’s pace of near-term rate cuts.
New figures from the Labor Department indicated that 64,000 jobs were added in November, topping economists’ Reuters-published expectations. This followed October’s job decline of 105,000. The October figure had been delayed due to the 43-day federal government shutdown.
Following the report, the dollar softened against its peers. It was trading about 0.08% lower at 0.795 per Swiss franc (USD/CHF) and the euro strengthened slightly, up about 0.09% to $1.1763 per euro (EUR/USD).
Overall, the U.S. dollar index (DXY), which tracks the greenback against a basket of currencies including the yen and the euro, slipped roughly 0.11% to 98.15.
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