The U.S. Dollar soared on Friday after a government report showed jobs growth came in above expectations in February. The news helped drive the benchmark 10-year Treasury yield into a one-year high of 1.625%, before pulling back to 1.577 into the close. The data backed up the view of Federal Reserve officials including Federal Reserve Chairman Jerome Powell who have said that a recent rise in U.S. government bond yields is justified by an improving economic outlook. The jobs improvement came amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting … (full story)
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