Weak jobs report sends dollar tumbling

Federal Reserve
The Federal Reserve's eagle. Copyright Dan Hinge.

A weak jobs report cast fresh doubt on the timing of the Federal Reserve's rate hike today (October 2), revealing an increase of just 142,000 in nonfarm payrolls in September.

With the Fed still looking for evidence of "some further improvement" in the labour market, the data spooked markets. The US dollar tumbled by 0.9% against the euro in the aftermath of the release.

Furthermore, today's report from the Bureau of Labor Statistics also revealed downward revisions to the nonfarm payroll gains

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