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May’s surprising pace of job growth along with a rise in wages added to conviction that the Federal Reserve will stay on hold through this summer and possibly beyond. The Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 272,000 for the month, considerably higher than the Wall Street consensus of 190,000 and well above April’s ...
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A Bloomberg gauge of dollar strength is on track for its longest weekly winning streak since February as the strength of the US economy crushed any remaining hopes of near-term Federal Reserve policy pivot. The benchmark rose nearly 0.8%, to the highest level in more than a month, after an advance in nonfarm payrolls Friday. Odds of a Fed rate cut were ...
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