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EUR/USD hits 25-month lows after NFP

FXStreet (Córdoba) - EUR/USD dropped nearly 100 pips in a matter of minutes and fell to its lowest level in 2 years as the greenback rallied across the board following a better-than-expected US nonfarm payrolls.

The US economy added 248,000 new jobs in September versus a revised gain of 180,000 in August and beating expectations of 215,000. Meanwhile, the unemployment rate unexpectedly dropped to 5.9%, hitting levels below 6.0% for the first time since mid-2008.

EUR/USD fell as low as 1.2517 so far, last seen Sept 5 2012. At time of writing, the pair is trading at 1.2525, 1.12% below its opening price.

The Federal Reserve is debating when to hike interest rates, and it is looking at jobs reports for evidence that the US economy can stand on its own. The central bank has said it could raise rates sooner than expected if labor market improves faster than projections.

Mexico Consumer Confidence s.a rose from previous 87.9 to 90.4 in September

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