The US dollar gained versus its major rivals on Friday after a volatile session despite weak US jobs data. According to the latest report of the US Labor Department, only 115,000 jobs were created in the last month while the unemployment rate stood at 8.1 percent as compared to 8.2 percent in the prior month. The disappointing data boosted assets like Treasury bonds and also lifted the safe haven status of the greenback.
The ICE dollar index DXY which tracks the US dollar’s movement against the basked of six major rival currencies gained to 79.468 on Friday as compared to 79.213 on Thursday’s North American trading session. The index touched its intraday low of 79.086 on Friday.
The single currency declined to 1.3095 versus the US dollar on Friday as compared to 1.3151 on Thursday’s late trading hours. It was the lowest for the pair EUR/USD since April 16th.
The British Pound was down to 1.6150 against the US dollar on Friday as compared to 1.1685 in prior session. Against the Japanese yen the US dollar declined to 79.88 on Friday as compared to 80.21 on late Thursday.
The Australian dollar further took more beating and fell to 1.0187 against the greenback which also happens to be its lowest in the current year. The Reserve Bank of Australia reduced its growth forecast for the current year which created uncertainty among the traders.
- No related posts found