Dollar jumps to seven-week high on strong US jobs report

It is a "blockbuster payrolls report by any measure. I think a no-landing scenario for the U.S. economy has suddenly become far more plausible," said Karl Schamotta, chief market strategist at Corpay in Toronto. "Rate cut expectations are being pulled back and the expectation now would be for a Federal Reserve that treads far more cautiously in easing policy”.

Read the Reuters article here.