Dollar Falls as Traders Digest Mixed Economic Data

The dollar index dipped to 102.0 after hitting a three-week peak of 103.1 earlier in the session, as mixed economic data added confusion about the Fed policy path. December saw a slowdown in US service sector growth, attributed to reduced new orders and a decline in employment levels. Conversely, the US jobs report for the same period showcased a significant surge in non-farm payrolls, reaching 216,000, surpassing the market forecast of 170,000, following an upward revision of November’s count to 173,000. Despite concerns, the unemployment rate held steady at 3.7%, below the expected 3.8%, while wage growth unexpectedly rose to 4.1%, defying predictions of a slowdown to 3.9%.

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