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U.S. dollar weakens after dismal jobs data

Xinhua News,NEW YORK
2020-05-09 03:31

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NEW YORK, May 8 (Xinhua) -- The U.S. dollar dipped in late trading on Friday after data showed a record 20.5 million jobs were lost in the world's largest economy last month.

The dollar index, which measures the greenback against six major peers, was down 0.15 percent at 99.7399.

In late New York trading, the euro increased to 1.0840 U.S. dollars from 1.0825 dollars in the previous session, and the British pound was up to 1.2410 dollars from 1.2357 dollars in the previous session. The Australian dollar rose to 0.6525 U.S. dollar from 0.6486 U.S. dollar.

The U.S. dollar bought 106.66 Japanese yen, higher than 106.29 Japanese yen of the previous session. The U.S. dollar decreased to 0.9708 Swiss franc from 0.9733 Swiss franc, and it was down to 1.3931 Canadian dollars from 1.3991 Canadian dollars.

U.S. total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, due to the impact of the COVID-19 pandemic, the U.S. Bureau of Labor Statistics reported Friday.

Employment fell sharply in all major industry sectors, with particularly heavy job losses in leisure and hospitality, said the report.
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