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Dollar slumps after U.S. nonfarm payrolls data, tariffs kick in Jul 06 2018 [Reuters]
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Dollar slumps after U.S. nonfarm payrolls data, tariffs kick in | Reuters 5 Min Read NEW YORK (Reuters) - The dollar hit three-week lows on Friday after data showed the U.S. economy created more jobs than expected in June, but a closely watched inflation gauge - wage growth - rose less than forecast and the unemployment rate increased. As a result, expectations dimmed somewhat that the Federal Reserve would raise interest rates a fourth time this year. The greenback had weakened earlier on Friday as the United States and China imposed tariffs on each other’s imports, but the fall was muted as investors waited for the jobs report. U.S. nonfarm payrolls advanced by 213,000 jobs in June, the Labor Department said. Data for April and May was revised to show 37,000 more jobs created than previously reported. The unemployment rate, however, rose to 4.0 percent from an 18-year low of 3.8 percent in May, while average hourly earnings rose 5 cents, or 0.2 percent, in June after increasing 0.3
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