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THE US dollar edged higher over the week, up 0.48% to 96.1 largely due to a sharp weakening in the euro. Meanwhile, the US government shutdown has stretched to 27 days as both President Trump and the Democrats remained unwilling to back off from their stands over the border wall funding. The concerns on the continued shutdown have weighed slightly on the dollar.
THE greenback added 0.35% to 97.08 on favourable job market data. Unemployment rate remained at 3.7% for the third consecutive month, with the labour force participation rate staying at 62.9% for the second consecutive month and wage growing at the same pace as in October by 3.1% y-o-y, 0.2% m-o-m.
AMID a short working week due to the Thanksgiving holiday, the US dollar closed higher by 0.31% to 96.712 following a stronger appetite for safe-haven assets after the rout in the stock market that saw Dow Jones and S&P 500 tumbling 2.2% and 3.2%, respectively, amid a nosedive in crude oil price.
THE dollar depreciated by 0.31% to 96.7 largely after improving risk appetite in the global markets added with weaker-than-expected October ISM Manufacturing PMI, which came in at 57.7 points (previous: 59.8 points; cons: 59 points), signalling a slowing momentum in the US economy.