Biggest single-day dollar slide in three weeks Dollar’s drop erases almost all the week’s gains Jobs growth slows but wage gains point to tight market Focus now on consumer price index (CPI) next week NEW YORK, Aug 4 (Reuters) – The dollar fell on Friday, paring almost all the week’s gains, after slowing U.S. jobs growth in July encouraged hopes of a soft economic landing but higher wages suggested the Federal Reserve may need to keep interest rates higher for longer. The U.S. economy added fewer jobs than expected last month. However, solid wage gains and a drop in unemployment to 3.5% signaled continued tightness in the labor market. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department’s survey of households showed, less than a Reuters’ survey of economists who forecast growth of 200,000.
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What the Charts Say 0:00
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