The US dollar dropped sharply against most major currencies today after non-farm payrolls frustrated market participants, showing employment growth that was slower than investors have hoped for.
Non-farm payrolls have been delayed because of the government shutdown and were released only today. Traders hoped for solid growth, but were frustrated as US employers added just 148,000 jobs in September. The value was far below the expectations of 182,000 and the August increase of 193,000.
The data was not simply disappointing by itself, but also means that the Federal Reserve will not taper its monetary stimulus until later next year. Such outlook is very bearish for the dollar.
EUR/USD soared from 1.3678 to 1.3779 as of 22:38 GMT today, trading near the highest level since November 2011. GBP/USD surged from 1.6145 to 1.6234. USD/JPY was flat at 96.12.
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