EUR/USD Falters Amid Robust US Jobs Data Ahead of ECB Rate Decision

The EUR/USD pair has maintained its gains near 1.1615 during the early Asian session on Monday, but the upside may be limited due to stronger-than-expected US jobs data.

The US Bureau of Labor Statistics reported a 162,000 increase in Nonfarm Payrolls (NFP) for August, exceeding expectations of 56,000 and a revised rise of 21,000 in July. The Unemployment Rate held steady at 4.1% in August.

Financial markets have increased rate hike bets at the US Federal Reserve's (Fed) September meeting, which may lift the US dollar against the Euro. Traders are now pricing in nearly 58.3% odds of a 25 basis points (bps) rate increase at the Fed's September meeting.