Last week brought a significant shift in market sentiment, particularly for the US Dollar. While much of the year has been characterised by concerns around slowing growth and expectations of future rate cuts, Friday’s Non-Farm Payrolls report reminded markets that the US economy remains remarkably resilient.
The jobs report came in significantly stronger than expected, prompting a sharp repricing across asset classes.
The US Dollar strengthened meaningfully, with EUR/USD falling towards 1.15 and GBP/USD closing the week around 1.3330.
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