Dollar Soars as US Jobs Report Exceeds Expectations

The US Dollar strengthened on Friday after a robust employment report sent shockwaves through the currency markets. The Euro (EUR) slid against the Greenback, falling to around 1.1605, down 0.18% on the day.

The United States' Nonfarm Payrolls rose by 162K in August, significantly beating expectations for a 56K increase. July's reading was revised sharply higher to a gain of 21K from the previously reported 23K decline, while June payrolls were revised to 31K from 20K.

The strong employment figures have revived expectations that the Federal Reserve (Fed) could raise interest rates at its September 15-16 meeting. However, it remains uncertain whether this will be enough to settle the September policy debate on its own.