Summary The dollar mostly rose Friday despite a mediocre US jobs report.
NEW YORK (AFP) - The dollar mostly rose Friday despite a mediocre US jobs report that did little to alter the Federal Reserve s go-slow policy on interest rate increases.
Following a spate of weak US data, the Labor Department reported job growth slowed more than expected in April, to 160,000 added jobs, the lowest number since September.
"You can kiss the chance of a June Federal Reserve rate hike goodbye after today s non-farm payrolls (NFP) report," Kathy Lien of BK Asset Management said in a client note.
The dollar, which weakened after the jobs data, ended the day a tick higher against the euro, at $1.1403 per euro. It also rose against the pound but slipped 0.1 percent against the yen.
Typically, anticipation of a rate increase boosts the dollar as investors seek higher yields.
"In order for the dollar to rise, we needed to see an unambiguously positive labor market report and unfortunately that did not happen," Lien said.
"At the same time, while the chance of a June rate hike collapsed, the dollar did not because the NFP report was released in an environment of dollar strength and most investors were positioned for a weak number."
