Dollar gains as strong U.S. jobs data backs Fed rate-cut pause

Greenback rallies to its highest since July against the yen

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Nonfarm payrolls increased by 256,000 jobs last month. Economists polled by Reuters had forecast payrolls advancing by 160,000 jobs. © Reuters

NEW YORK (Reuters) -- The U.S. dollar rallied across the board on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month.

The dollar rose to its highest since July against the yen after the data and was last up 0.1% at 158.27 yen. The U.S. currency has risen in five of the last six weeks.

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