XM does not provide services to residents of the United States of America.

US dollar ticks up on jobs data, bitcoin trades near record



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>FOREX-US dollar ticks up on jobs data, bitcoin trades near record</title></head><body>

Updates at 1245 GMT

By Harry Robertson and Kevin Buckland

LONDON/TOKYO, Oct 30 (Reuters) -The dollar ticked up on Wednesday after stronger-than-expected private sector jobs data, though it remained off a three-month peak,while bitcoin sat close to a record high as traders raised their bets on a Donald Trump victory in next week's election.

Meanwhile, the pound fell on the day of the new Labour government's first budget as British bonds rallied, whilethe euro waveredas inflation and growth data from the euro zone trickled in.

The U.S. dollar index =USD, which measures the currency against six major rivals including the yen and euro, was last up 0.16% at 104.41. The dollar was flat at 153.15 yen JPY=EBS.

The U.S. currency rose after data showed U.S. private payrolls growth surged in October, despite fears of temporary disruptions from hurricanes and strikes. The index rose to itshighest since July 30 at 104.63 on Tuesday before finishing the day almost flat.

Separate data showed the U.S. economy grew at an annualised rate of 2.8% in the third quarter, slightly lower than the 3% expected by economists.

"On the whole, today's data reaffirms that the U.S. is indeed still on course for a 'soft landing', with growth remaining resilient, as price pressures continue to subside," said Michael Brown, senior research strategist at Pepperstone.

Mixed U.S. indicators overnight, showing a loosening U.S. jobs market but a confident consumer, provided little clarity on the outlook for Federal Reserve rates, allowing the greenback to drift lower with Treasury yields.

Recently though, economic readings have pointed to a resilient jobs market and economy, spurring traders to pare back their bets on rate cuts.

Both the dollar and U.S. bond yields have alsobeen buoyed in recent days by rising speculation in markets and on some betting platforms for a victory in theNov. 5 presidential electionfor Republican candidate Trump, whose tariff and immigration policies are seen as inflationary.

That helped leading cryptocurrency bitcoin BTC= surge to near its all-time high from March at $73,803.25, as Trump has vowed to make the United States "the crypto capital of the planet".

The token last changed hands at about $72,026,after pushing as high as $73,609.88 in the previous session.


UK BUDGET

Sterling GBP=D3 was last down 0.42%at $1.2961,after earlier touching a nine-day peak, as British finance minister Rachel Reeves delivered theLabour government's first budget on Wednesday.

The pound was dragged lower by a drop in British bond yields, which have risen sharply in recent weeks.

Reeves, along with Prime Minister Keir Starmer, has reiterated the need for tough fiscal measures to help improve Britain's public finances.

They are seeking to retain the confidence of investors, two years after then-prime minister Liz Truss' tax-cutting plans sparked a crisis in the bond market.

"Today's budget will be a clear focus," said Jane Foley, head of FX strategy at Rabobank. "For Chancellor Reeves, PM Starmer, gilts, the pound and the whole UK economy, there is potentially a huge amount resting on this budget."

The euro EUR=EBS was last flatat $1.0814. It roseslightly after German growth and regional inflation data came in stronger than expected, causing traders to trim their bets on an outsized rate cut from the European Central Bank in December, but fell after the U.S. private payrolls data.

Separate figures on Wednesdayshowed the euro zone economy grew 0.4% in the third quarter, more than the 0.2% expected by economists.

The Aussie dollar AUD=D3 dropped as low as $0.6537 for the first time since Aug. 8, after data showed inflation slowed to a 3-1/2-year low, before trading 0.2% weaker at $0.6573.

The Reserve Bank of Australia's preferred inflation gauge, the trimmed mean measure, slowed to 3.5% from 4.0% in the third quarter, but service-sector inflation remained elevated.



Reporting by Harry Robertson in London and Kevin Buckland in Tokyo; Additional reporting by Laura Matthews; Editing by Jacqueline Wong, David Evans and Gareth Jones

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.