International

Dollar soars after “monster” U.S. jobs report

Photo: Portofalio.co

February 4^ft |

The dollar climbed Friday after data showed U.S. employers created far more jobs in January than economists expected, which could give the Federal Reserve more room to keep raising interest rates.

The Labor Department’s employment report showed that nonfarm payrolls increased by 517,000 jobs last month. The December data was revised upward to reflect 260,000 jobs added, rather than the 223,000 previously reported.

Average hourly earnings increased 0.3%, after rising 0.4% in December. This reduced the year-on-year increase in wages to 4.4% from 4.8% in December. Economists polled by Reuters had expected an increase of 185,000 jobs and a year-over-year advance in wages of 4.3%.

This is a “monster number,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.

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The dollar rose 1.12% to 102.92 units on the day against a basket of currencies, the highest level since Jan. 12 and in its best day since Sept. 23.

The euro fell 0.98% to $1.08040. The dollar gained 1.82% against the Japanese yen to 131.20 units, the highest since January 18 and its best session since June 17.

Sterling depreciated 1.39% to $1.20550, its lowest level since January 6.

International

Ten Bodies Found in Mexico’s Zacatecas State Amid Security Operation

Mexican authorities discovered the bodies of 10 people on Saturday in the central state of Zacatecas, a region that was heavily affected by organized crime violence just a few years ago.

The victims were found in different municipalities across the state, which experienced a surge in violence between 2021 and 2022 as rival criminal groups fought for control of key drug trafficking routes.

Rodrigo Reyes, secretary general of the Zacatecas state government, said on social media that the bodies were located in the municipalities of Morelos, Pánuco, and Sain Alto.

Authorities have not yet disclosed the causes of death or identified those responsible for the killings.

Reyes said security forces have launched a coordinated operation to locate those behind the crimes and strengthen the police presence in the affected areas as the investigation continues.

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International

U.S. to Limit Visa Duration for Foreign Students and Journalists

The United States has announced new limits on the legal length of stay for foreign students and journalists, marking the latest tightening of immigration policies under President Donald Trump.

The changes, outlined in an administrative rule published on Thursday, are expected to take effect in September, unless Congress blocks the measure.

Under the new policy, holders of student visas will be allowed to remain in the United States for no more than four years.

Foreign journalists will be limited to 240-day stays—approximately eight months—with the possibility of applying for extensions of the same duration.

The policy imposes even stricter rules on Chinese journalists, whose visas will be capped at 90 days.

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More than 100 international news organizations and press freedom groups, including Agence France-Presse (AFP), criticized the measure in an open letter, arguing that it would reduce both the quantity and quality of international coverage of events in the United States.

The Republican Party, led by President Trump, currently holds a majority in Congress and has pledged to curb both illegal immigration and certain forms of legal immigration.

Previously, the United States generally issued student visas for the full duration of an academic program, while foreign journalists could receive visas valid for up to five years.

Central America

Nicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute

The Nicaraguan government announced on Thursday that it is severing diplomatic relations with Italy following criticism from the Italian government over Nicaragua’s long-standing decision to shelter Alessio Casimirri, a former member of the Red Brigades convicted in Italy for the 1978 kidnapping and murder of former Prime Minister Aldo Moro.

Italian Foreign Minister Antonio Tajani criticized the administration of co-presidents Daniel Ortega and Rosario Murillo on Wednesday for continuing to provide refuge to Casimirri, who was sentenced in Italy to six life terms for his role in Moro’s abduction and killing.

In a statement issued Thursday, Nicaragua’s Foreign Ministry said it was ending all diplomatic relations with Italy, describing Tajani’s remarks as “unjustified, aggressive, and irresponsible.”

Tajani made the comments during a gathering of conservative leaders from Europe and Latin America held in Madrid.

“We have absolutely nothing in common with the positions of extremist governments such as Nicaragua, a country that continues to harbor dangerous Red Brigades terrorists like Alessio Casimirri,” Tajani said, according to Italian media.

The diplomatic break marks a new escalation in tensions between the two countries over the decades-old case involving Casimirri, who has lived in Nicaragua for many years despite repeated calls from Italy for his extradition.