The dollar is zigzagging after the jobs report missed

The dollar is zigzagging after the jobs report missed expectations and showed the US economy losing jobs for the first time in seven years.

The US dollar index was up by 0.1% at 94.09 at 8:49 a.m. ET. It momentarily jumped as high as 94.25 minutes earlier.

The US economy lost 33,000 jobs in September, the first negative print since 2010, according to the Bureau of Labour Statistics.

Economists had expected the two destructive hurricanes that slammed into the US mainland in September to slow hiring, but they were unsure about the extent.

The consensus forecast according to Bloomberg was for 80,000 nonfarm payrolls, well below the trend of the past few months.

The US dollar index is down by about 8% since US President Donald Trump’s election.

Check out the full report from Business Insider’s Akin Oyedele here.

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