1636 GMT - Friday's strong U.S. nonfarm payrolls data for December raise the risk of the euro falling to parity against the dollar as early as this month, Monex's Nick Rees says in a note. A strong U.S. economy means the U.S. Federal Reserve could opt for an "extended pause" in interest-rate cuts, he says. "Traders are continuing to align with this view," with money markets now not fully pricing in a rate cut until September. The dollar has therefore strengthened more quickly than Monex had previously predicted. Monex also expects sterling could fall to $1.20 this month. EUR/USD falls to a two-year low of 1.0216 after the U.S. jobs data while GBP/USD hits a 14-month low of $1.2192, FactSet data show. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
January 10, 2025 11:36 ET (16:36 GMT)
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