US dollar edges up after strong jobs data

Views: 16

New York, July 9 (IANS) The US dollar climbed modestly against its major rivals in late trading on Monday as traders continued to digest the better-than-expected jobs report.

In late New York trading, the euro fell to $1.1211 from $1.1221 in the previous session, and the British pound decreased to $1.2512 from $1.2526 in the previous session, Xinhua news agency reported.

The Australian dollar fell to $0.6971 from $0.6979.

The US dollar bought 108.72 Japanese yen, higher than 108.57 Japanese yen of the previous session. The US dollar rose to 0.9939 Swiss franc from 0.9919 Swiss franc, and it was up to 1.3096 Canadian dollars from 1.3083 Canadian dollars.

US employers added 224,000 jobs in June, and the unemployment rate edged up to 3.7 per cent, the US Bureau of Labor Statistics reported on Friday.

The data came as investors are pricing high on immediate interest rate cut moves by the US central bank in order to spur growth.

The robust employment report may reduce the odds, experts noted.

The dollar index, which measures the greenback against six major peers, increased 0.11 per cent at 97.3873 in late trading.

–IANS

pgh/

Comments: 0

Your email address will not be published. Required fields are marked with *