FX.co ★ DXY Extends Gains After Strong Jobs Report

The US dollar index climbed 0.6% to 102.2 on Friday, extending its advance after October’s employment report substantially surpassed forecasts. Nonfarm payrolls rose by 165,000, more than double the consensus estimate of 65,000, while the unemployment rate ticked down to 4.1%. Job gains were broad-based, led by professional and business services as well as healthcare, underscoring the resilience of the labour market, which continues to be underpinned by robust consumer spending and business investment. The stronger data reinforced expectations that the Federal Reserve will maintain a restrictive policy stance, with investors largely pricing in another interest rate hike in December to curb inflation. Policymakers will receive one more employment report and a complete set of inflation readings before their next meeting. The dollar also drew support from safe-haven inflows amid a global equity selloff, driven by mounting concerns over AI-related valuations and the prospect of tighter regulation.