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US dollar falls

Tue, Nov 10, 2015, 09:34 AM
New York, Nov 10: The US dollar fell against other major currencies as investors took profit on the greenback's rally in the previous session on strong job gains.

In late New York trading on Monday, the euro rose to $1.0757 from $1.0747 in the previous session, and the British pound climbed to $1.5112 from $1.5043 in the previous session, Xinhua reported.

The Australian dollar increased to $0.7046 from $0.7042.

The US dollar bought 123.10 Japanese yen, lower than 123.21 yen of the previous session.

The US dollar declined to 1.0037 Swiss franc from 1.0062 Swiss franc, and it went down to 1.3280 Canadian dollars from 1.3295 Canadian dollars.

US total nonfarm payroll employment increased by 271,000 in October, the largest gain since December 2014. The unemployment rate fell to 5.0 percent, the lowest since April 2008, the Labor Department said on Friday.

Meanwhile, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $25.20, following little change in September.

The robust employment report bolstered market expectation for the Federal Reserve to lift interest rate next month. The dollar index, which measures the greenback against six major peers, was up 1.25 percent at 99.159 in late trading on Friday, the highest since mid-April.

But the index fell 0.17 percent at 98.999 in late trading on Monday after investors taking profits.
Agency: IANS

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