The Clap
After employers hired more workers than expected, the USD climbed against major currencies on Friday.
The Deets
The USD last climbed to JPY 145.37 on the dollar, recovering some of the early losses recorded last week.
The EUR also fell against the USD.
Jobs
The unemployment rate fell to 3.5% from 3.7%, as nonfarm payrolls increased by 263,000 last month, more than the expected 250,000.
Why this Matters
An increase in jobs signals a strengthening US economy, amid ongoing economic pressures.
What Now
The Fed will continue to aggressively hike interest rates to help slow down runaway inflation. Interest rates have already reached 3.25% so far this year.
