NEW YORK (AP) — On Friday, the dollar fell off a three-month high, pulled down by some of the weaker specifics of what was an otherwise good June non-farm payrolls report in the United States. Despite Friday’s decline, the dollar was still on track to complete the week with a 0.6 percent gain. The dollar was trading higher ahead of the announcement due to expectations of a strong jobs report.
Nonfarm payrolls in the United States increased by 850,000 jobs last month, compared to 583,000 in May, according to data. However, the unemployment rate increased to 5.9% from 5.8% in May, and the carefully monitored average hourly earnings, a measure of wage inflation, gained 0.3 percent last month, less than the consensus prediction of 0.4 percent. “We originally reacted favourably to the headline, which was stronger than expected,” said Vassili Serebriakov, a New York-based FX strategist. “After that, it moved a little lower due to some of the report’s weaker specifics, such as the higher unemployment rate and the higher bar for a good surprise.” The dollar index dipped 0.2 percent to 92.421 in mid-morning trading, after touching a three-month high of 92.759 earlier. The dollar has risen sharply since the Federal Reserve of the United States startled investors last month by signaling that it may tighten policy sooner than expected to combat inflation.
After trading down before the jobs news, the euro was marginally higher on the day at US$1.1854.
The dollar fell 0.4 percent against the yen to 111.185 yen. The dollar’s value against the yen reached a 15-month high on Thursday. ======================================================== At 9:21 a.m., currency bid prices were as follows: (1321 GMT)
Description RIC Change in the United States’ Close Percentage YTD High Bid Low Bid Percentage ChangeSessions that have come before The dollar index is a measure of the value of +92.7590 +92.3720Euro/Dollar 92.3710 92.5690 -0.20percent 2.656percent +92.7590 +92.3720Euro/Dollar US$1.1856 US$1.1851 +0.05% -2.95% +US$1.1859 +US$1.1807Dollar/YenDollar/YenDollar/YenDollar/YenDollar/YenDollar/YenDollar/YenDollar/YenDollar/Y 131.83 132.15 -0.24per cent +3.87per cent +132.2200 +131.7000Dollar/Swiss -0.34per cent +7.62per cent +111.6550 +111.1500Euro/Yen -0.34per cent +7.62per cent +111.6550 +111.1500Dollar/Swiss -0.34per cent +7.62per cent +111.6550 +111.1500Dollar/Sw US$1.3785 US$1.3764 +0.18percent +0.93percent +US$1.3790 +US$1.3734Dollar/Canadian 0.9230 0.9257 -0.28percent +4.33percent +0.9274 +0.9224Sterling/Dollar US$1.3785 US$1.3764 +0.18percent +0.93percent +US$1.3790 +US$1.3734Dollar/Canadian +1.2449 +1.2376Aussie/Dollar 1.2376 1.2437 -0.49% -2.81percent +1.2449 +1.2376Aussie/Dollar US$0.7494 US$0.7471 +0.31 percent -2.58 percent +US$0.7496 +US$0.7445 Euro/Swiss 0.8600 0.8603 -0.03per cent -3.77per cent +0.8617 +0.8591NZD 1.0942 1.0965 -0.21per cent +1.25per cent +1.0972 +1.0937Euro/Sterling 0.8600 0.8603 -0.03per cent -3.77per cent +0.8617 +0.8591NZD US$0.7000 Dollar/Dollar: US$0.6969 +0.44percent -2.52percent +US$0.7001 +US$0.6947Dollar/Dollar: US$0.6969 +0.44percent -2.52percent +US$0.7001 +US$0.6947Dollar/Dollar Dollar/Norway Euro/Norway: 8.6150 8.6315 +0.09% +0.61% +8.6735 +8.6255Euro/Norway: 8.6150 8.6315 +0.09% +0.61% +8.6735 +8.6255 +10.2598 +10.2150Dollar/Sweden 10.2150 10.2179 -0.03percent -2.41percent +10.2598 +10.2150Dollar/Sweden Euro/Sweden: 8.5586 8.5722 -0.06% +4.42% +8.6014 +8.5593 10.1485 10.1547 -0.06% +0.72% +10.1740 +10.1429 10.1485 10.1547 -0.06% +0.72% +10.1740 +10.1429 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Emelia Sithole-Matarise, William Maclean)/n
