Dollar Gains Amid Slower U.S. Jobs Growth and Awaited Tariff Ruling

The U.S. dollar rose on Friday after data showed slower than expected jobs growth in December, casting doubt on a Federal Reserve interest rate change. While markets anticipated a Supreme Court decision on Trump's tariffs, which was not delivered, the dollar saw gains against key currencies.

The dollar showed resilience on Friday as the latest U.S. jobs data indicated slower growth than anticipated. According to the Labor Department, the economy added 50,000 jobs in December, falling short of the 60,000 jobs predicted by economists.

This news led to a marginal rise in the dollar against major currencies such as the yen, franc, and euro. Market participants closely monitored a pending Supreme Court decision on President Trump's tariffs, which was not announced, adding complexity to the day's financial proceedings.

Steve Englander from Standard Chartered remarked that the tariff ruling could be the day's most impactful event, while the FedWatch tool showed an increased likelihood of the Federal Reserve maintaining current interest rates at their upcoming meeting.

(With inputs from agencies.)