Greenback falls on week

Greenback falls on week

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The US dollar fell this week, pushed lower on Friday after the US Labor Department reported that there were 4,000 fewer jobs in the US in August, against an expectation that 112,000 jobs would be created.

This increased sentiment that the Federal Reserve will likely cut US interest rates when it meets later this month.

During the week, the greenback dropped 1 percent to $1.3770 versus the euro, near a record low, while it fell 0.5 percent to $2.0270 to sterling, was down 1.6 percent to SFr1.1890 against the Swiss franc, and was 1.9 percent lower to ¥113.60 in relation to the yen.

The yen’s gain on the US currency was part of trend in which the Japanese currency added 0.9 percent to ¥156.45 against the euro, was up 1.4 percent to ¥230.15 versus the pound, and gained 3.4 percent to ¥78.40 in relation to the New Zealand dollar.

In Europe, the euro added 0.5 percent to £0.6795 versus sterling over the week after both the Bank of England and the European Central Bank chose to hold interest rates steady in the face of recent market upsets.