Dollar turns negative after cooler-than-expected headline jobs report

The U.S. dollar flipped into negative territory and dropped to session-lows after Friday’s jobs report missed estimates. U.S. nonfarm payrolls came in at 155,000, compared with the MarketWatch consensus forecast of 190,000.

The unemployment rate remained at a 49-year low of 3.7%, and average hourly wages rose by 0.2%. The ICE U.S. Dollar Index DXY, -0.09% was last down 0.2% at 96.647, on track for a 0.6% decline on the week.

The jobs report is a key component of the Federal Reserve’s monetary policy decision-making, and while the central bank is expected to hike interest rates next week, its path for increases in 2019 is less certain. Currency analysts are also beginning to pencil in a weaker U.S. economy in the second half of next year.

 

/marketwatch.com

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