The dollar climbed on Monday after a gauge of its strength rose more than 1% on Friday, when figures showed a surge in payrolls and unemployment at a 53-year low. This points to persistent US inflation and bolsters the case for more rate increases. South Korean stocks and contracts for US equities also declined.
US stocks halted a three-day advance on Friday in a volatile session that saw equities swerve between modest gains and losses as investors contended with the labor data.
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US jobs surge, tech concerns whiplash stocks and send dollar higherA surge in hiring in the United States renewed worries about aggressive interest rate hikes on Friday, bolstering the dollar and whiplashing Wall Street stocks.
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Rand takes hit as US jobs surge sends dollar higher | BusinessA surge in hiring in the United States renewed worries about aggressive interest rate hikes, bolstering the dollar and whiplashing Wall Street stocks. | News24_Business
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