Euro turns higher against dollar on US jobs data

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Euro turns higher against dollar on US jobs data

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Euro rose against dollar as US jobs data fell to the lowest point in nearly four years.

18 February,2012 03:19 am

The euro is turning higher against the dollar after government said the number of people seeking unemployment benefits last week fell to the lowest point in nearly four years.The euro was down to a three-week low against the dollar before the jobs report was released on fears that Greece wont get a $170 billion bailout package it needs to avoid defaulting on its debt next month.The euro is up to $1.3108 in afternoon trading Thursday from $1.3063 late Wednesday.The Labor Department Weekly applications for unemployment benefits dropped to the lowest level since March 2008.The dollar is also falling against the British pound and the Swiss franc.