U.S. nonfarm payrolls added 165,000 in October, and the dollar posted its largest single-day gain in nearly five months.

BlockBeats news, November 7 - The U.S. nonfarm payrolls added 165,000 jobs in October, far exceeding the expected 65,000, and the unemployment rate fell to 4.1%.

Strong employment data pushed the probability of the Federal Reserve raising interest rates by 25 basis points in December to nearly 80%. The dollar index rose 0.71% to 102.31, the largest single-day gain since June 17; the euro, pound, and yen fell 0.72%, 0.74%, and 0.5% against the dollar, respectively.

U.S. Treasury yields also climbed, with the 10-year yield rising to 4.85% and the 2-year yield rising to 4.52%. Federal Reserve officials Williams, Musalem, and Daly all emphasized that inflationary pressures persist, with Daly stating that the Fed may still need to raise rates further. (Jinshi)