The U.S. dollar dropped against major peers after disappointing job data, with nonfarm payrolls up only 22,000 versus an estimated 75,000. The dollar weakened against the Japanese yen and Swiss franc, while the euro gained. U.S. Treasury yields fell, and Wall Street indexes turned negative.

Traders now see a 10% chance of a 50-basis point cut at the Fed’s next meeting, with a 90% probability of a 25-basis point cut. The pound rose against a weaker dollar after British Deputy PM Angela Rayner resigned. Gold hit a record high of $3,599.89 as the dollar weakened, with spot gold at $3,593.04.

Read more at Yahoo Finance: Dollar drops against peers after weaker-than-expected jobs report