Traders get no clarity on Fed outlook after jobs data

New York

FOREIGN-EXCHANGE traders, hoping to head off for the Labour Day weekend with a clear picture of how Federal Reserve policy will influence the dollar, were left scratching their heads on Friday.

The greenback slumped and then rebounded after a Labor Department report that August jobs growth and wage gains were weaker than projected. Futures showed the likelihood of a September interest-rate increase at 32 per cent, after it fell to as low as 20 per cent, and 60 per cent by December.