The DXY Index rallied to 104.60 and then stabilized at 104.30.
The BLS reported higher-than-expected NFP employment figures from March.
US Treasury yields soared after the release of the labor data.
The US Dollar Index (DXY) is currently trading at 104.30, trimming steep initial gains on Friday following a surprising beat from the Nonfarm Payrolls (NFP) report. The strong labor market scene, underscored by the better-than-anticipated NFP report for March, solidifies the Dollar's bullish outlook. That being said, the odds of a rate cut in June from the Federal Reserve (Fed) remain high and steady.
US Economic data will continue to guide the timing of the Fed's easing cycle, with consensus still pointing to a June initiation. Next week, markets will eye Consumer Price Index (CPI) figures for March.
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