The U.S. dollar exhibited strength against its major counterparts on Friday as data showing stronger than expected growth in U.S. non-farm payroll employment raised expectations that the Federal Reserve will continue to aggressively tighten its policy.
The Labor Department's data showed that non-farm payroll employment jumped by 390,000 jobs in May after surging by an upwardly revised 436,000 jobs in April. The data has offset the faint hopes that the central bank might slow its planned pace of interest rate hikes.
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