Ignoring the jobs report, the Dollar is rising against major currencies

The Dollar rose on Friday against other major currencies, after retreating for a short time following the release of jobs report data which was less than expected, but it soon regained strength.

The dollar was under pressure on Thursday after various US economic reports. The greenback recovered after Fed policymakers declared in a minutes of a meeting from December, released on Wednesday, that the labor market and economic activity in the United States remained strong, despite continued low inflation.

Non-farm jobs in the United States increased by 148,000 last month. Economists had forecast an increase of 190,000. The data from October and November were revised, showing a decline of 9,000 jobs, compared with previous estimates. Data also showed that employers in the United States added 250,000 jobs in a month, well above economists’ expectations.

A separate report showed that jobless claims in the United States increased by 3,000 last week, reaching 250,000, in contrast to expectations of a decline of 6,000 claims. Minutes of the meetings showed that the Federal Reserve will continue to raise interest rates gradually, but this pace may increase if inflation rates rise.

The dollar index, which measures the strength of the greenback against a range of other major currencies, rose 0.10%, trading at 91.69 points. The euro and the pound settled against the USD, with EUR / USD trading at $1.2058, and GBP / USD trading at $1.3558.

Meanwhile, the Japanese Yen and the Swiss Franc fell against the US dollar, as the dollar rose against the Japanese yen by 0.27%, trading at 113.06 yen per dollar. The dollar rose against the Swiss franc by 0.17%, hitting 0.9756 francs per dollar. The Aussie and New Zealand dollars were trading against the greenback, the AUD weakened against the greenback by 0.31% to trade at $0.7840. The Australian Bureau of Statistics declared that the country’s trade deficit rose to $628 million in November, at $302 million in October. The New Zealand dollar also fell against the US dollar by 0.08%, trading at 0.7150 USD per New Zealand dollar. The greenback was up against the Canadian dollar by 0.10%, trading at 1.2502.

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