US October Nonfarm Payrolls Rise 165,000, Dollar Posts Biggest Daily Gain in Nearly Five Months

Cointime reports: US nonfarm payrolls rose by 165,000 in October, far exceeding the 65,000 expected, and the unemployment rate fell to 4.1%. The strong data lifted the probability of a 25-basis-point Fed rate hike in December to nearly 80%, sending the dollar index up 0.71% to 102.31, its largest single-day gain since June 17. Treasury yields rose in tandem, with the 10-year at 4.85% and the 2-year at 4.52%, while Fed officials Williams, Musalem and Daly stressed that inflation pressures persist.