The U.S. dollar turned weak against its major counterparts on Friday after data showing an uptick in unemployment rate in the month of October raised hopes the Fed will likely slow the pace of rate hikes in the coming months.
Data released by the Labor Department this morning showed that the unemployment rate increased to 3.7% in October from 3.5% a month earlier. Economists had expected unemployment rate to edge up to 3.6%.
For comments and feedback contact: editorial@rttnews.com
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.