The U.S. dollar dropped against its major counterparts in the European session on Friday, as the nation's jobless rate rose more than expected in October, raising the prospect of a slowdown in the pace of rate hikes in the coming months.
Data from the Labor Department showed that the unemployment rate increased to 3.7 percent in October from 3.5 percent in September. The unemployment rate was expected to inch up to 3.6 percent.
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Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.