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US dollar turns higher as investors assess NFP data

FXStreet (Córdoba) - As the knee-jerk reaction fades, the US dollar gains traction as investors reassess US employment figures. It seems that figures were not that disappointing but mainly in line with expectations, and even encouraging as the US economy manages to print its ninth straight gain above 200K, last accomplished in 1994.

The US economy created 214,000 jobs in October, versus 231,000 expected and following an upwardly revised 256,000 from 248,000 gain in September. August’s gain was revised to 203,000 from 180,000. Meanwhile, the unemployment rate edged lower to 5.8% against 5.9% expected.

US dollar printed fresh cycle highs against the euro (1.2357), the pound (1.5789) and the yen (115.56) after data.

Gold gains after payrolls in the US rise less-than-expected.

Gold prices have inched higher after the official data in the US showed the economy added less jobs than expected in October, while the unemployment rate fell to a six-year low of 5.8%.
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