Thu, 21 Jan 2021

U.S. dollar inches lower after lackluster jobs data

Xinhua
05 Dec 2020, 06:51 GMT+10

NEW YORK, Dec. 4 (Xinhua) -- The U.S. dollar weakened modestly in late trading on Friday after data showed employment growth in the nation slowed last month.

The dollar index, which measures the greenback against six major peers, fell 0.01 percent at 90.7090.

In late New York trading, the euro fell to 1.2136 U.S. dollars from 1.2141 dollars in the previous session, and the British pound fell to 1.3442 dollars from 1.3449 U.S. dollars in the previous session. The Australian dollar fell to 0.7437 U.S. dollar from 0.7445 dollar.

The U.S. dollar bought 104.09 Japanese yen, higher than 103.96 Japanese yen of the previous session. The U.S. dollar was down to 0.8904 Swiss franc from 0.8914 Swiss franc, and it was down to 1.2781 Canadian dollars from 1.2855 Canadian dollars.

The U.S. economy added 245,000 jobs in November, following a downwardly revised 610,000 in October, the U.S. Bureau of Labor Statistics reported Friday, well below a Dow Jones consensus estimate of 440,000. The unemployment rate edged down to 6.7 percent from 6.9 percent in October, roughly in line with expectations.

The figures indicated the U.S. job market and the economy are faltering in face of a surging pandemic, experts noted.

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