The US dollar rallied today but trimmed gains after US nonfarm payrolls came out much better than was expected. At the same time, the greenback completely erased gains versus the Japanese yen after the employment report.
US employment grew by 146,000 jobs last month, beating analysts’ forecasts of 86,000, and the unemployment unexpectedly fell by 0.2 percentage point to 7.7 percent. The Dollar Index advanced 0.1 percent to 80.355, reaching the highest level since November 23.
Usually, the US currency falls after good news. Indeed, the greenback retreated against some riskier currency, including the Canadian dollar. But the euro had its own negative factors, allowing the dollar to outperform the shared European currency.
EUR/USD traded at 1.2926 as of 19:26 GMT today, following the drop from 1.2965 to 1.2876. GBP/USD was at about 1.6034 after it fell from 1.6045 to 1.6000 earlier. At the same time, USD/JPY slid to 82.34 after rising from 82.38 to 82.81.img src=”/news/images/currencies/US-Dollar/hundred-dollars-bills.jpg” width=”280″ height=”186″ alt=”A heap of hundred dollars US bills” class=”alignleft size-full” /
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