Dollar advances on robust US jobs report, backs Fed's no-rate-cut stance


The dollar rose on Friday after five straight days of losses, bolstered by data showing the US economy created way more jobs than expected in November, backing the Federal Reserve's stance of keeping interest rates on hold after cutting them three times this year. Gains in the dollar though were modest despite a robust jobs number.

The greenback has been pummeled all week due to a slew of weaker-than-expected US data in manufacturing and services with investors coming to grips with the reality that the economy is slowing down. Friday's.

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