Dollar retreat due to disappointing US job market statistics -- analyst

KUWAIT, Oct 4 (KUNA) -- The retreat in the exchange rate of the dollar was due to disappointing statistics regarding the job market in the US last month, said a financial analyst here Sunday.
The statistic showed the US job market created some 142,000 jobs in September, a 60,000 job decrease from what was forecasted, Analyst Mohammad Al-Ansari told KUNA, adding that the predicted number was at around 203,000.
Regarding unemployment in the US, the rates have stabled at 5.1 percent last month as predicted, said Al-Ansari.
He noted that the current status quo will make it tough on the Federal Reserve to take stricter monetary policies this month.
The Federal Reserve may have to postpone any decision on increasing the interest rates till next year, said Al-Ansari He revealed that the US dollar index, gauging the performance of the currency, was down by 0.92 percent, settling at 95.45 points, the lowest rate for the currency since September 21. (end) asf.gta