Euro Climbs to Over 3-Week High

The euro surged towards $1.08, marking its strongest level since April 9th, as traders revised their expectations for interest rate cuts following the release of a weaker-than-anticipated US jobs report.

The data revealed that the US economy added fewer jobs than projected last month, with only 175,000 jobs created, prompting investors to accelerate their predictions of the Federal Reserve's first rate cut from November to September.

Additionally, annual wage growth eased to 3.9%, while the jobless rate unexpectedly rose to 3.9%.

Meanwhile, in Europe, a steady inflation rate and moderate GDP growth from the Eurozone, released earlier, have further bolstered the case for a potential interest rate cut by the ECB in June.