WASHINGTON, Nov 5 (Reuters) – U.S. and European equities markets resumed their rally and the dollar index hit a one-year peak on Friday after Labor Department job data rebounded in a reassuring sign for investors who had worried for months about how stocks would fare once the Fed began to rolling back the 2020 pandemic-fueled stimulus.

Nonfarm payrolls increased by 531,000 jobs last month as the surge in COVID-19 infections over the summer subsided, offering more evidence that U.S economic activity was regaining momentum early in the fourth quarter. read more

But global stocks have also climbed to a series of records in recent weeks, bolstered by blockbuster earnings reports from the biggest U.S. listed companies.

The dollar index , which measures the greenback against a basket of six rivals, rose as high as 94.634 after the jobs report, its highest level since Sept. 25, 2020.

The dollar, which has strengthened to hit its highest…

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