Dollar Gains Momentum on Strong U.S. Employment Data

The U.S. dollar surged on Wednesday against major currencies including the euro and Swiss franc, buoyed by unexpectedly robust employment data. This data indicates a strong underlying U.S. economy.

U.S. employers exceeded expectations by adding 130,000 jobs in January, surpassing Reuters' forecast of 70,000 jobs, while unemployment fell to 4.3% from December's 4.4%. Consequently, the Federal Reserve is likely to delay further rate cuts.

The dollar's performance saw a 0.13% increase against the Swiss franc, elevating to 0.769, while the euro depreciated 0.13% to $1.1879. Additionally, the dollar index experienced a slight gain, rising 0.03% to settle at 96.95.