By Chibuike Oguh
NEW YORK, Aug 7 (Reuters) - The dollar fell against major currencies including the yen and euro on Friday after U.S. employment unexpectedly declined in July, fueling concerns about the economy's strength and undermining the case for the Federal Reserve to raise interest rates.
The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists' expectations for an increase of 80,000 jobs, according to a Reuters poll. The U.S. unemployment rate fell to 4.1% as the labor participation rate fell to a near a five-and-a-half year low of 61.4%.
The dollar weakened against the yen after the report, shedding gains made in recent days in the aftermath of a historic intervention last week between ******* anese and U.S. authorities, which had pushed it to a 13-week low.
It was last down 0.57% to 157.56 yen but on track for a weekly gain of about 0.10%.
#labor #rate #last
NEW YORK, Aug 7 (Reuters) - The dollar fell against major currencies including the yen and euro on Friday after U.S. employment unexpectedly declined in July, fueling concerns about the economy's strength and undermining the case for the Federal Reserve to raise interest rates.
The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists' expectations for an increase of 80,000 jobs, according to a Reuters poll. The U.S. unemployment rate fell to 4.1% as the labor participation rate fell to a near a five-and-a-half year low of 61.4%.
The dollar weakened against the yen after the report, shedding gains made in recent days in the aftermath of a historic intervention last week between ******* anese and U.S. authorities, which had pushed it to a 13-week low.
It was last down 0.57% to 157.56 yen but on track for a weekly gain of about 0.10%.
#labor #rate #last
3 months ago
