US dollar mixed amid jobs data

US dollar mixed amid jobs data

New York, July 9 (IANS) The US dollar traded mixed against other major peers on Friday as investors were digesting the newly-released confirm payroll report from the country.

In late New York trading, the euro fell to $1.1043 from $1.1055 in the previous session, and the British pound climbed to $1.2953 from $1.2900 in the previous session, Xinhua news agency reported.

The Australian dollar inched up to $0.7568 from $0. 7477.

The US dollar bought 100.54 Japanese yen, lower than 100.76 yen of the previous session. The US dollar rose to 0.9834 Swiss franc from 0.9790 Swiss franc, and it gained to 1.3047 Canadian dollars from 1.3017 Canadian dollars.

Total nonfarm payroll employment increased by 287,000 in June, beating market consensus of a 175,000-gain, and the unemployment rate rose to 4.9 percent, the US Labor Department reported on Friday.

Analysts said the June nonfarm report mollified concerns of an economic slowdown in the country, as May’s payroll rose only by 38, 000 and notched the fewest monthly job gain in almost six years.

However, many analysts pointed out that although the Federal Reserve will take encouragement from this vital data, they simply aren’t in a position to consider a rate hike at the moment.

Fed policymakers decided in June that it was prudent to wait for more data and the Brexit vote result before raising rates, according to the minutes of the Fed’s June policy meeting released on earlier this week.

The dollar index, which measures the greenback against six major peers, was up 0.02 per cent at 96.344 in late trading.

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