The euro breaks the $1.10 mark according to the US jobs report

The euro edged higher this Friday, breaching the $1.10 mark, on the back of the greenback’s weakness following the release of US jobs data and an increase in risk tolerance.

The single European currency was trading at $1.1024 around 15:00 GMT, up from $1.0941 in the last few hours of trading in the European forex market the previous day.

The European Central Bank (ECB) has set the reference exchange rate for the euro at 1.0946 US dollars.

US job creation slowed significantly in July to 187,000 new jobs.

Before these figures were released, the euro had depreciated against the dollar.

Markets see a 30 percent chance that the Fed will hike rates another 25 basis points before the end of the year.

The single currency was exchanged in a range between $1.0936 and $1.1028.

The euro has risen after a potential Fed rate hike cooled

US job creation slowed further in July, although the jobless rate was little changed, falling just a tenth month on month to 3.5%, according to data released by the Bureau of Labor Statistics on Friday (BLS). Some data, according to analysts, may lead to this fed stop interest rate hikes.

Job creation slowed significantly in the seventh month of the year, with 187,000 net job creations, well below the trailing 12-month average of 312,000.

The new jobs were in healthcare, which added 63,000 jobs in July; welfare (24,000), financial services (19,000) and wholesale (18,000).

Unemployment remained virtually unchanged in July with a total of 5.8 million unemployed.

The number of long-term unemployed also remained unchanged at 1.2 million people in July, accounting for 19.9% ​​of the total number of unemployed.

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