The US dollar has surged to a six-week high against the yen, driven by robust US jobs data and safe-haven demand amid rising Middle East tensions. The Federal Reserve's cautious stance on rate cuts has further supported the dollar's strength. The dollar is poised for its largest weekly gain since April, with the dollar index up 0.589%, marking its biggest one-day jump in four months. The yen has weakened, with the dollar/yen exchange rate rising to 148.0. The euro and sterling have also declined against the dollar, with the euro down 0.5% and sterling down 0.25%. The dollar's rally is set to make this its best week in two years. September payrolls beat expectations, and the dollar ETF is up 2.2% this week.
The dollar is about to notch its best week in two years https://t.co/XaMd6DbmgK
$UUP - US Dollar ETF $DXY ripping, Dollar ETF now up for a 5th day in a row, +2.2% this week, note, crucial resistance level $28.74 https://t.co/MHAhm84ACm
Dollar jumps to upper 148 yen level on strong US jobs data https://t.co/NS0gi5cVxW