Fri, 03 Feb 2023

U.S. dollar slips amid jobs data

Xinhua
03 Dec 2022, 07:30 GMT+10

NEW YORK, Dec. 2 (Xinhua) -- The U.S. dollar weakened in late trading on Friday as market participants digested the latest U.S. payrolls data.

The dollar index, which measures the greenback against six major peers, fell 0.18 percent to 104.5460.

In late New York trading, the euro was up to 1.0537 U.S. dollars from 1.0522 dollars in the previous session, and the British pound increased to 1.2289 U.S. dollars from 1.2257 dollars in the previous session.

The U.S. dollar bought 134.47 Japanese yen, lower than 135.24 Japanese yen of the previous session. The U.S. dollar was up to 0.9377 Swiss francs from 0.9367 Swiss francs, and it rose to 1.3463 Canadian dollars from 1.3427 Canadian dollars. The U.S. dollar increased to 10.3254 Swedish Kronor from 10.3088 Swedish Kronor.

The U.S. Labor Department reported Friday that the country's employers added 263,000 jobs in November, a decrease from October's upwardly revised 284,000, but higher than the consensus estimate of 200,000. The unemployment rate was unchanged at 3.7 percent.

"Another solid rise in payrolls, but another month with fewer jobs added than the month before," Chris Low, chief economist at FHN Financial, said in a note on Friday.

"There is nothing in this report that will be compelling to the Fed one way or there other," he said. "That is, there is no reason to be more aggressive in hiking rates, but there is also no reason to stop hiking either."

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