Dollar consolidates gains after strong jobs data

The dollar rose against most of the major currencies during trading on Friday, lifted by a strong monthly jobs report, which has beat market forecasts for last month.

The US Labor Department released its reading for the non-farm employment change index, as the economy has added around 1.8 million jobs in July, higher than forecasts of 1.530 million, and the unemployment rate fell to 10.2% vs. 11.1%.

US President Donald Trump issued executive orders on Thursday banning US transactions with Chinese applications WeChat and TikTok for 45 days.

Otherwise, the US government has reached multiple deals to buy hundreds of millions of coronavirus vaccines doses.

The dollar index rose against a basket of currencies by 0.7% to 93.4 points as of 19:03 GMT, after it hit a high of 93.4 and a low of 92.7.