The dollar weakened against several currencies on Friday after a disappointing jobs report, which showed that the economy added just 235,000 jobs last month. This morning, however, the greenback has rebounded, strengthening against both the pound and the euro.
This figure missed expectations of 750,000 and was the lowest reading in 7 months. It’s thought that a recent surge in COVID-19 infections may have discouraged companies from hiring and workers from looking for jobs. It was also a dramatic fall from the 1.1 million jobs added in July.
The disappointing report followed ‘dovish’ comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, who expressed fears of the Delta variant damaging the economy.
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