Federal Reserve Vice Chair Richard Clarida laid the groundwork for dollar gains by suggesting this week conditions for hiking interest rates might be met as soon as late 2022. “This (jobs) number and the next one are going to be quite key to the Fed’s decision,” said Shafali Sachdev, head of foreign exchange in Asia at BNP Paribas Wealth Management. Forecasts for jobs created last month vary widely, from about 350,000 to 1.6 million, but the consensus figure is 870,000 and traders think a number that size or larger would lift the dollar while something below 650,000 might hurt it.
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