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Markets

US jobs data hurts dollar

Published Updated

NEW YORK: The US dollar followed equities lower Monday, slipping against the euro as the previous week's poor jobs data continued to reverberate through the markets.

At 2100 GMT, the euro traded at $1.3106 compared to $1.3096 last Friday, when the US government reported the economy created a meager 120,000 jobs in March, falling short of analyst forecasts of 200,000 and raising doubts about the pace of economic growth.

But trade was relatively quiet Monday as much of Europe was still on holiday, said Boris Schlossberg of forex specialists GFT.

"The dollar remained under pressure in the wake of very disappointing (employment) data on Friday," he said. "The greenback continued to weaken the most against the safe harbor currencies."

Japan's currency gained on both the dollar and the euro. The euro bought 106.80 yen compared to 106.84 yen on Friday; the dollar was at 81.49 yen, down from 81.59 yen.

The British pound rose to $1.5894 from $1.5869, while the dollar climbed to 0.9167 Swiss francs from 0.9162 francs.

Copyright AFP (Agence France-Presse), 2012

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