The combination of US economic reports showing slightly weaker results caused a solid jump in EUR/USD. The Euro strengthened against the Greenback by 56 base points to reach the peak nearing the 1.1972 mark, albeit stronger bearish sentiment restored a downmove in the pair.
The Labour Department revealed that the US marked an increase of 156K new jobs over the course of August, which was below expectations, but strong enough to keep the country’s economy growing at a steady pace. Meanwhile, the unemployment rate rose to 4.4% from 4.3% in the same period. Despite moderation in the labour market, data showed nothing that could undermine the Fed’s intention to start trimming its balance sheet.
