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U.S jobs data supports US dollar as fragile risk-on mood holds
Encouraging U.S. economic data gave the dollar an edge over its peers on Friday, arresting a recent flight from the greenback while also supporting Asian currencies as investors toned down recent gloom over the global economy. Separate surveys suggested the world’s largest economy is in better shape than investors had feared. U.S. service sector activity accelerated in August and private employers boosted hiring beyond expectations. It contributed to a broad risk-on shift in money, bond and stock markets stoked by news that China-U.S. trade talks would resume next month, and supported the dollar. “Stronger than ... (full story)