The U.S. Bureau of Labor Statistics (BLS) reported on Friday that nonfarm payroll (NFP) employment in the U.S. increased by 151,000 jobs in February, falling short of market expectations of 160,000 jobs.

Additionally, the employment report indicated that the unemployment rate edged up slightly to 4.1% from 4% in January. This has led investors to speculate that the Federal Reserve may cut interest rates again in May.

However, growing concerns over President Donald Trump's trade policies could lead to renewed inflationary pressures within the domestic economy due to higher import prices. This may directly impact the Federal Reserve’s monetary policy and the value of the U.S. dollar.

Source: Fxstreet