| CATEGORY: FX |
FX round-up: Dollar falls after payroll figures |
|
Mon 09 Nov 2009
|
LONDON (SHARECAST) - The dollar headed lower against major currencies on Friday, despite a promising start to the session, as investors reacted to the day’s big economic data.
October non-farm payrolls data showed the US unemployment rate rose to 10.2% from 9.8% in September. The number of jobs lost in October was 190,000 compared with forecasts of 175,000 job losses.
At first the disappointing data prompted a flight to safe haven investments such as the dollar, but the view that US interest rates are likely to remain close to zero well into next year, then started to weigh heavily on dollar interest.
The dollar index, which measures the US currency against a basket of six others, was little changed at around 75.774 on Friday.
The greenback was down at 89.88 yen from 90.73 the previous session. Sterling remained close to a two week high against the dollar on Friday but did lose ground following the US jobs data as risk appetite faded.
The pound was trading down 0.1% at $1.6577. The euro was trading up 0.2% at 89.85p.
|
|
| |
|
 |
Archived Stories |
 |
|
Front Page Stories |
|
|
