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2013.10.2212:09:00UTC+00Research: Usd Fundamentals

  • The dollar tumbled anew after a weak payrolls report suggested the U.S. economy was already on a fragile footing, before a government shutdown likely set it back even further. 
  • Non-farm payrolls underwhelmed with a gain of 148,000 in September, short of forecasts of 180,000. 
  • Unemployment, though, unexpectedly fell to 7.2%, the lowest since November 2012. August hiring got revised up to 193,000 from 169,000 but July's got bumped down to 89,000, the lowest since June 2012, from 104,000. 
  • Today's jobs report was strange on many levels but the bottom line is that it strengthened the case for the Fed to wait until next year to taper stimulus, a clear-cut negative for the buck that leaves it vulnerable over the foreseeable future.

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