The dollar is flying after the jobs report

The
dollar
gained sharply on Friday after the July
jobs report
showed that hiring in the US was stronger than
forecast. 

The dollar index, which measures the greenback against a
basket of other G-1o currencies, is up 0.91% to 93.64 at 10:15
a.m. ET. 

US employers added 209,000 jobs on net, while the unemployment
rate returned to a 16-year low of 4.3%, according to the Labor
Department’s report. 

The greenback has fallen nearly 8% since inauguration day in
January as President Donald Trump’s agenda to reform healthcare
and tax policy stalled. Also, economic growth has picked
up globally.

Still, the weaker dollar has been a boost for the profits of
US companies that sell products internationally. Second-quarter
earnings for S&P 500 companies are on track for a
second-straight period of growth, according to FactSet. 



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