U.S. nonfarm payrolls surge on course for a third straight week

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The dollar fell in March to$ 1.09 billion after it took on a halt for the largest economy in March, suggesting it is on a steady path to recovery from the pandemic. In order to observance the Good Friday holiday, the financial markets are closed in Australia, Singapore, Hong Kong, Britain, Europe and the United States. Friday's data showed that U.S. nonfarm payrolls surged 916,000 jobs last month- the largest increase since August last. The data for February was revised higher to show 379,000 jobs rather than the previously reported 468,000. Economists polled by Reuters had forecast jobs growth by 647,000 in March. The important thing is that the employment trend is pointing in the right direction, said JJ Kinahan, Chief Market Strategy at TD Ameritrade in Chicago. We 're not where we were before March last year- we 're still 5.5% off our peak, but we continue to make great progress, he added. The sentiment for the dollar has improved in recent weeks, while Treasury yields have spiked, as the anticipated stimulus of more than$ 2 trillion and the rapid COVID 19 vaccine rollout promoted economic optimism as well as inflation fears. The benchmark 10-year Treasury yields of the United States were last at 1.705%, up almost 3 basis points from the previous session. In mid-morning trading, the dollar index was up 0.81% at 92.959 and posted gains in five of the last six weeks. It is headed for its third straight weekly increase. The dollar's ascent to multi-month highs is likely to continue as more investors bet on economic recovery. The dollar was slightly up against the yen at 110.68 yen, not far from its strongest level in a year at just under 111 yen. The dollar was quoted against the Euro at$ 1.1777, near a five-month high. The greenback, after losing 0.2% on Thursday, was little changed against the Swiss currency of$ 0.94170 Swiss franc. The New Zealand dollar slid to$ 0.7612 and the Australian dollar was flat in the Tasman Sea at US$ 0.7025. In the cryptocurrency market, bitcoin briefly overflowed in two weeks at$ 59,130, but then plunged gains to trade up 0.7% at$ 60,000. Dollar U.S. dollar trade rate at 9: 57 AM Description RIC Latest Close Pct Change Low Bid Previous Change Session Dollar Index 92.9440 110.6050 0.09% 7.15% 10.7500 130.3700 Euro Yen 130.26 13.0.3250 0.9416 0.04% 1.43% 0.275 Euro Swiss 1.1090- 0.01%- 2.17% 1.073 Euro Sterling 0.8510 0.06%- 0.48% 1.2530 German Dollar 8.7219

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