Jobs report hurts greenback

Story link: Jobs report hurts greenback

The US dollar weakened in relation to the euro and the yen Wednesday after a private report said that the United States lost nearly 700,000 jobs in December.

With the official Labor Department jobs figures for December to be released Friday, the report from ADP Employer Services showed the December job losses at the highest for any one-month period since it began keeping records in 2001.

In late morning trade in New York, the dollar traded at $1.3693 to the euro while it took ¥92.97 to buy a dollar.

The shared currency also gained on the yen, which at the same time traded at ¥126.8862 to the euro, while it took 89.79p to buy a euro.

The Brazilian real declined versus the greenback after commodities prices fell and on the report of US job losses, trading at R$2.2317 to the dollar just before noon in New York, while the same two issues also weakened the Canadian dollar in relation to its US counterpart, with the loonie trading at C$1.1883 to the dollar.