The dollar extends its loss after weaker-than-expected jobs report:
The dollar extended its losses on Friday, following a weaker-than-expected February U.S. jobs report.
“Today’s huge miss will likely keep haven assets in favour as fears of an economic slowdown adds to the risk-off sentiment driving markets,” said Sam Cooper, Vice President of Market Risk Solutions at Silicon Valley Bank. “While participants appear to be focused on trade and politics, the disappointing data will be a concern for dollar bulls and could put the brakes on the momentum behind a strengthening dollar.
Elsewhere, China reported February trade numbers during the Asian session, which came in far worse than the consensus. Exports dropped 20.7%, compared with a 4% slide expected, while imports fell by 5.2% rather than only 0.9%. In the U.K., Prime Minister Theresa May will have a last chance at asking the European Union for a better Brexit deal, ahead of the presumably final vote in the British Parliament next week on March 12. The U.K. is set to leave the EU on March 29. So far, no deal governing the relationship between London and Brussels has been agreed.
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