Dollar Overvalued, US Jobs Numbers Surpass Expectations

The US dollar's value against most global currencies is overvalued, according to Marc Chandler, chief market strategist at Bannockburn Capital Markets. Speaking on CNBC's 'Squawk Box', Chandler pointed out that the dollar has surged in value recently.

Meanwhile, the US economy added jobs at a brisk pace in August, with nonfarm payrolls rising 162,000 for the month. The unemployment rate remained steady at 4.1%, as reported by the Bureau of Labor Statistics. Economists had forecasted a payroll increase of just 53,000.

President Donald Trump weighed in on the jobs numbers, saying that the US should lower interest rates to make homes more affordable and to take advantage of being a strong credit.