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US dollar softens, China inflation data takes centre stage

From channelnewsasia.com

The dollar was on the back foot on Monday after a miss in U.S. jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release. The U.S. economy added 209,000 jobs last month, data on Friday showed, marking the smallest increase in 2-1/2 years and the first time in 15 months that payrolls missed expectations. That sent the dollar tumbling nearly 1 per cent against a basket of currencies on Friday while the yen and sterling surged. The Japanese yen last bought 142.30 per dollar in early Asia trade on Monday, ... (full story)

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