Dollar Weakens on Job Report, Gold at 6-Month High
By GrabNetworks
From Fnno.com this is the financial news network. America only added 96,000 jobs in August, well below the expected 130,000. Major indexes stayed relatively flat as we approach the end of this week. US Treasuries rallied slightly on the back of some safety seeking trades and the 10yr yield is sitting at 1.65 handle. Given the job report, quantitative easing looks more likely and in response to that expectation, USD became weaker against all major currencies. We all agree that QE3 will boost equities and damage the dollar, but really there isn't much the Fed can do going into their meeting next Wed. Gold price rallied more than 2% to 1738, which is the highest it has been the past 6 months. For more news and updated, keep it right here at the Financial News Network, I'm Julia Sun. Find us on twitter @FNNOnline
Dollar Weakens on Job Report, Gold at 6-Month High
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