Dollar Jumps to Seven-Week High on Strong US Jobs Report

FOREX - NEW YORK. The dollar jumped to a seven-week high on Friday after data showed that U.S. employers added more jobs than expected in September, leading traders to pare bets that the Federal Reserve will cut rates again by 50 basis points at its November meeting.

Nonfarm payrolls increased by 254,000 jobs last month. Economists polled by Reuters had forecast payrolls rising by 140,000 positions.