Jobs data helps US dollar

Story link: Jobs data helps US dollar

The US dollar gained on the euro again on Friday to bring this week’s advance against the shared currency to around 1.5 percent.

The greenback was helped by new data from the US Labor Department that showed only 20,000 jobs were lost in the US in April, many fewer than had been anticipated.

The dollar also gained on the yen, for a strengthening of around 1.2 percent this week, and on the Swiss franc.

At nearly noon in New York, the dollar traded at $1.5430 to the euro, while a dollar bought ¥105.2750 and SFr1.0560.

On the other hand, the dollar was weaker in relation to the South African rand, trading at R7.5555 to the dollar around midday in New York.

The yen was weaker against the rand, the Brazilian real and the New Zealand dollar as equities markets saw gains on the US jobs report, raising investor interest in risky carry trades.

It took ¥63.304 to buy a real, ¥82.467 to buy a New Zealand dollar, ¥13.928 to buy a rand, and ¥162.4341 to buy a euro.

The British pound also gained on the euro as it traded at 78.07p to the shared currency near midday in New York.

The Australian dollar fell in relation to the US dollar on the week’s decline in prices for raw materials, exports of which account for about 17 percent of the Australian economy.

In late morning trade in New York the Aussie was worth 93.72 cents US.