Weak US jobs data on Friday prompted investors to pile back into bearish bets on the dollar, at the end of what was still its strongest week since the election of Donald Trump.
The greenback notched up a 1.5 per cent rise against a basket of other major currencies, according to LSEG, its largest weekly rise since the week of the US election in November 2024.
But the dollar was stopped in its tracks on Friday when new jobs data indicated a sharp slowdown in the US labour market. The dollar index fell 1.3 per cent on the day.
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