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Dollar rallies after better-than-expected jobs data

NEW YORK (MarketWatch) — The dollar surged against most other major currencies Friday after a government report showed that the U.S. labor market was not as weak as expected in April. The economy lost 20,000 nonfarm payroll jobs last month, according to a survey of business establishments, much less than the 81,000 lost in March and way below the 78,000 decline expected by economists surveyed by MarketWatch. The dollar index soared 0.6% to 73.62 compared with 73.19 before the data. The dollar surged 0.5% against the euro and 1% against the Japanese yen.
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Original post by Forextvblog

This entry was posted on Friday, May 2nd, 2008 at 8:35 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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