020 7898 0500The dollar sell-off on Friday continued as the big jobs data figure came in pretty much at expected at 161,000 jobs. However, revisions were made, with wages rising faster than expected, providing more ammunition for a likely rate hike on 16th December. Atlanta Federal Reserve President, Dennis Lockhart, stated that the pace of rate increases will be ‘very gradual’, with the economy heading toward moderate growth.
The US dollar has been slipping against other safe-haven currencies due to nervousness ahead of Tuesday’s US election despite the solid job data. The battle between Clinton and Trump has tightened significantly in the past week due to the latest FBI revelations as several swing states that were heading toward the Democrats are too close to call. It is difficult to know how impactful the FBI’s decision not to take matters further will be as a lot of votes have already been cast.
