USD benefits from private jobs report, UAE decision

USD benefits from private jobs report, UAE decision

Story link: USD benefits from private jobs report, UAE decision

TAGS:

The US dollar fell to near a one-month low versus the euro on Thursday when it traded at $1.4781 to the euro early, but a private report on US employment that said more new jobs were created there in December than had been expected helped the greenback to regain some of its losses.

However, the official jobs report from the US Labor Department, due for release Friday, is expected to say that fewer jobs were created in December than in November and that the unemployment rate rose by one tenth of one percent to 4.8 percent, the highest in over a year.

At just past noon in New York, the dollar traded at $1.4732 to the euro and at $1.9744 to the pound while it took ¥109.7050 to buy a dollar.

The dollar was helped after the United Arab Emirates said that after consideration it will keep its currency’s link to the dollar.

The UK currency, meanwhile, fell to another record low versus the euro at 74.81p, while it traded at 74.62p to the euro at just past midday in New York.

The pound was hurt by an announcement from the Bank of England that it will cut the availability of credit to consumers and businesses in the first quarter of the year.

The yen declined in relation to the Brazilian real and the Norwegian krone after investors began to again seek out more risky investments after US equities markets saw gains.

In early afternoon trade in New York the yen traded at ¥62.115 to the real and at ¥20.491 to the krone, while it was at ¥161.6228 to the euro and at ¥216.6015 to the pound.