Dollar little changed after lower-than-expected U.S. payrolls
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
NEW YORK - The dollar surrendered most of its gains to trade little changed on Friday after the release of a disappointing U.S. jobs report that suggested the Federal Reserve could pull back from plans to accelerate tapering of its asset purchases and deliver less aggressive interest rate hikes.
U.S. non-farm payrolls increased by 210,000 jobs last month, the Labor Department reported. Economists polled by Reuters had forecast payrolls would advance by 550,000 jobs. Estimates ranged from as low as a gain of 306,000 jobs to as high as 800,000.
"With this jobs report it may give them (Fed) pause to say 'okay we don't have to accelerate in December. We can give it another few weeks until we have better data from Omicron and we know what we're dealing with,'" said Thomas Hayes, managing member at Great Hill Capital LLC in New York.
"They can keep ahead with their taper timeline, but accelerating at this point in an information vacuum where we don't have all the information on Omicron is irresponsible and hasty," said Hayes, referring to the new, highly contagious COVID-19 variant.
In early morning trading, the dollar index rose 0.1% to 96.214.
The euro was slightly down at $1.1296.
Against the yen, the dollar was up 01% at 113.355.
========================================================
Currency bid prices at 8:56AM (1356 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 96.1280 96.0900 +0.06% 6.831% +96.3240 +95.9440
Euro/Dollar $1.1306 $1.1301 +0.05% -7.46% +$1.1334 +$1.1282
Dollar/Yen 113.3500 113.2050 +0.13% +9.71% +113.4850 +112.9600
Euro/Yen 128.14 127.90 +0.19% +0.96% +128.2400 +127.6800
Dollar/Swiss 0.9193 0.9202 -0.09% +3.92% +0.9217 +0.9170
Sterling/Dollar $1.3280 $1.3298 -0.12% -2.78% +$1.3309 +$1.3255
Dollar/Canadian 1.2770 1.2806 -0.29% +0.27% +1.2845 +1.2757
Aussie/Dollar $0.7065 $0.7094 -0.39% -8.14% +$0.7095 +$0.7049
Euro/Swiss 1.0392 1.0400 -0.08% -3.84% +1.0408 +1.0387
Euro/Sterling 0.8510 0.8494 +0.19% -4.78% +0.8534 +0.8493
NZ $0.6788 $0.6817 -0.52% -5.56% +$0.6818 +$0.6774
Dollar/Dollar
Dollar/Norway 9.1000 9.0985 +0.13% +6.09% +9.1490 +9.0955
Euro/Norway 10.2887 10.2708 +0.17% -1.70% +10.3284 +10.2689
Dollar/Sweden 9.1211 9.0464 +0.79% +11.28% +9.1455 +9.0440
Euro/Sweden 10.3130 10.2324 +0.79% +2.35% +10.3260 +10.2244
