Early trade in New York: dollar rallies versus euro

The dollar rose against the euro on Friday after the US jobless rate fell to its lowest level in nearly two years, and traders said a brightening US economic outlook may help it extend gains in the weeks ahead. The euro fell as low as $1.3544, and traders said a break through firm support at $1.3570 suggested a three-week euro rally may be showing signs of exhaustion.
The euro was last 0.4 percent lower at $1.3577, headed for its first three-day decline in more than a month. The euro peaked this week at $1.3862, the highest in nearly three months, but slid after the European Central Bank cooled expectations for a near-term hike in eurozone interest rates.