Dollar Turns In Mixed Performance Against Rivals After Jobs Data
(RTTNews) - The U.S. dollar turned in a mixed performance on Friday with investors digesting the non-farm payrolls and wage growth data and speculating the likely future moves of the Federal Reserve.
Data showing a bigger than expected in jobs addition in the month of April has fueled hopes that the Fed will hold rates steady in the near future.
The data from the Labor Department showed non-farm payroll employment shot up by 253,000 jobs in April compared to economist estimates for an increase of about 179,000 jobs.
However, the job growth in February and March was downwardly revised to 248,000 jobs and 165,000 jobs, respectively, reflecting a combined downward revision of 149,000 jobs.
The data also showed the unemployment rate edged down to 3.4% in April from 3.5% in March. Economists had expected the unemployment rate to remain unchanged.
The dollar index, which climbed to 101.78 after after the release of the jobs data, dropped to around 101.20 a little past noon, and was last seen at 101.28, down 0.12% from the previous close.
Against the Euro, the dollar weakened to 1.1021 after having firmed to 1.0968 earlier. The dollar is weak at 1.2633 against Pound Sterling.
The dollar is up against the Japanese currency, fetching 134.86 yen a unit. Against the Aussie, the dollar has slid to 0.6752.
The dollar is up against Swiss franc at CHF 0.8906. Against the Loonie, the dollar has dropped to C$1.3379 from C$1.3539 as oil prices rose sharply, and data showed a much bigger than expected addition in Canadian employment in April.
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