US dollar rises on jobs data

6 May, 2018 12:00 AM printer

NEW YORK: The U.S. dollar increased on Friday as investors were sifting through the latest jobs data from the country.

The dollar index, which measures the greenback against six major peers, increased 0.18 percent to 92.584 in late trading, reports Xinhua.

U.S. unemployment rate fell to 3.9 percent in April after flatling at 4.1 percent for six straight months, the Labor Department reported on Friday.

It marked the lowest level since December 2000, with non-farm payroll employment increased by 164,000 last month, according to the department.

Average hourly earnings of private-sector workers rose 2.6 percent in April from a year ago, in line with recent monthly readings.

Analysts said Friday's job report confirmed a strengthening job market that would give the Federal Reserve more confidence to further increase interest rates.

In late New York trading, the euro fell to 1.1960 dollars from 1.1998 dollars in the previous session, and the British pound decreased to 1.3542 dollars from 1.3575 U.S. dollars in the previous session. The Australian dollar was up to 0.7537 dollar from 0.7532 dollar.

The U.S. dollar bought 109.12 Japanese yen, lower than 109.21 Japanese yen of the previous session. The U.S. dollar was up to 1.0007 Swiss franc from 0.9973 Swiss franc, and it stayed flat at 1.2853 Canadian dollars.