U.S. dollar tumbles after jobs report, services data

U.S. dollar tumbles after jobs report, services data


NEW YORK, Jan. 6 (Xinhua) — The U.S. dollar fell sharply in late trading on Friday as markets reacted to newly-released economic data.

The dollar index, which measures the greenback against six major peers, dipped 1.11 percent to 103.8790.

In late New York trading, the euro rose to 1.0647 U.S. dollars from 1.0530 dollars in the previous session, and the British pound climbed to 1.2098 U.S. dollars from 1.1918 dollars.

The U.S. dollar bought 132.05 Japanese yen, lower than 133.22 Japanese yen of the previous session. The greenback decreased to 0.9276 Swiss francs from 0.9360 Swiss francs. The U.S. dollar weakened to 1.3434 Canadian dollars from 1.3569 Canadian dollars, and it slipped to 10.5199 Swedish Kronor from 10.6791 Swedish Kronor.

The U.S. Labor Department reported Friday that the U.S. economy added 223,000 jobs in December, the smallest increase in two years but better than an increase of 200,000 forecast by economists. The unemployment rate fell to 3.5 percent from 3.6 percent, while hourly pay rose by 0.3 percent.

Meanwhile, the Institute for Supply Management said that the U.S. services PMI (Purchasing Managers’ Index) fell to 49.6 percent in December from 56.5 percent in the prior month. Numbers under 50 percent indicate contraction in the sector.



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Author: Shirley