US nonfarm payrolls rose by 172k in the latest report, boosting Fed rate hike expectations and lifting the Dollar Index.
The Dollar Index climbed to 100.109 on Friday after US nonfarm payrolls exceeded forecasts, rising by 172k. The stronger-than-expected jobs data increased speculation of a Federal Reserve rate hike in the near term.
Prior to the release, market expectations had centered on a softer print, but the 172k gain surpassed consensus estimates. The surge in the Dollar Index reflects heightened investor confidence in the US economic outlook.
Analysts suggest potential resistance near 100.10-100.50, while the euro may stabilize above 1.1500 to avoid further declines.