Dollars Lasted, Euro Rising Amid US Work Data

US Dollars (Photo: ANTARA)

The US dollar slipped against another major coin at the end of trading Friday (Saturday morning WIB), as market participants digested the latest US non-farm payroll data and after a Federal Reserve official said rising interest rates were likely to slow down.

The dollar index, which measures the greenback against six other major currencies, fell 0.18 percent to 104.5460. At the end of New York's trading, the euro rose to $1.0537 from $1.0522 in the previous session, and the UK pound increased to $1.2289 from $1.2257 in the previous session.

The US dollar was bought at 134.47 Japanese yen, lower than 135.24 Japanese yen in the previous session. The US dollar rose to 0.9377 Swiss francs from 0.9367 Swiss francs, and rose to 1.3463 Canadian dollars from 1.3427 Canadian dollars. The US dollar increased to 10.3254 Swedish kronas from 10.3088 Swedish kronas.

The US Department of Labor reported Friday (2/12) that the country's employer added 263,000 jobs in November, down from a revision up October 284,000, but higher than the estimated 200,000 consensus. The unemployment rate did not change at 3.7 percent.

"An additional solid increase in salary data, but another month with less work added than the previous month," Chris Low, chief economist at FHN Financial, was quoted as saying by ANTARA, Saturday, December 3.

"There is nothing in this report that will force the Fed in one way or another," he said. It means, there is no reason to be more aggressive in raising interest rates, but there is also no reason to stop climbing either," he added.

"Stronger-than-expected recruitment could give the Fed more time to stay aggressive," said Joe Manimbo, senior market analyst at Convera in Washington.

Meanwhile, Chicago Fed President Charles Evans said that the rate of interest rate hikes is likely to slow down, but added that the US central bank is likely to need to increase lending costs to a "slightly higher" peak than expected in estimates starting September.