The U.S. dollar increased against most other major currencies on Friday as investors meditated on a batch of economic reports.
U.S. total nonfarm payroll employment increased by 261,000 in October, well below market expectations, and the unemployment rate edged down to 4.1 percent, according to the U.S. Labor Department Friday.
Traders kept a close eye on nonfarm payroll report and tried to find clues on when the Federal Reserve might increase interest rate next.
"As in the late 1990s, the last time unemployment was this low, the Fed will start to sweat the potential inflation implications. But any who take the time to look at the data will see the late 90s was a remarkably benign time for inflation," said Chris Low, chief economist at FTN Financial, in a note.
Meanwhile, the U.S. Commerce Department announced Friday that the goods and services deficit was 43.5 billion U.S. dollars in September, up 0.7 billion dollars from 42.8 billion dollars in August, revised.
The dollar index, which measures the greenback against six major peers, increased 0.29 percent at 94.963 in late trading.
In late New York trading, the euro fell to 1.1608 dollars from 1.1661 dollars in the previous session, and the British pound rose to 1.3069 dollars from 1.3063 U.S. dollars in the previous session. The Australian dollar dipped to 0.7650 dollar from 0.7718 dollar.
The U.S. dollar bought 114.17 Japanese yen, higher than 113.99 yen of the previous session. The U.S. dollar climbed to 1.0007 Swiss francs from 0.9992 Swiss francs, and it moved down to 1.2760 Canadian dollars from 1.2808 Canadian dollars. Enditem
U.S. total nonfarm payroll employment increased by 261,000 in October, well below market expectations, and the unemployment rate edged down to 4.1 percent, according to the U.S. Labor Department Friday.
Traders kept a close eye on nonfarm payroll report and tried to find clues on when the Federal Reserve might increase interest rate next.
"As in the late 1990s, the last time unemployment was this low, the Fed will start to sweat the potential inflation implications. But any who take the time to look at the data will see the late 90s was a remarkably benign time for inflation," said Chris Low, chief economist at FTN Financial, in a note.
Meanwhile, the U.S. Commerce Department announced Friday that the goods and services deficit was 43.5 billion U.S. dollars in September, up 0.7 billion dollars from 42.8 billion dollars in August, revised.
The dollar index, which measures the greenback against six major peers, increased 0.29 percent at 94.963 in late trading.
In late New York trading, the euro fell to 1.1608 dollars from 1.1661 dollars in the previous session, and the British pound rose to 1.3069 dollars from 1.3063 U.S. dollars in the previous session. The Australian dollar dipped to 0.7650 dollar from 0.7718 dollar.
The U.S. dollar bought 114.17 Japanese yen, higher than 113.99 yen of the previous session. The U.S. dollar climbed to 1.0007 Swiss francs from 0.9992 Swiss francs, and it moved down to 1.2760 Canadian dollars from 1.2808 Canadian dollars. Enditem
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