Investing.com - The dollar moved higher against most major
currencies on Friday after data revealed the U.S. economy created
more payrolls than expected in February.
In U.S. trading on Friday, EUR/USD was up 0.05% at 1.3867.
The Bureau of Labor Statistics reported earlier that the U.S.
economy added 175,000 jobs in February, beating expectations for a
January's figure was revised up to 129,000 from 113,000.
The U.S. private sector added 162,000 jobs last month, exceeding
expectations for a 154,000 rise. January's figure was revised up to
145,000 from 142,000.
The report also showed that the U.S. unemployment rate ticked up
to 6.7% in February, from 6.6% the previous month. Analysts had
expected the unemployment rate to remain unchanged last month.
Meanwhile, data also showed that the U.S. trade deficit expanded
to $39.1 billion in January, from $38.98 billion in December, whose
figure was revised from a previously estimated deficit of $38.7
Analysts had expected the trade deficit to expand to $39.00
billion in January.
The data sent the dollar gaining, as the Federal Reserve has
said it will pay close attention to data when deciding on how
quickly it will dismantle its monthly bond-buying program.
Fed bond purchases, currently set at $65 billion a month, weaken
the dollar by suppressing interest rates that aim to spur recovery
by encouraging investing and hiring.
Still, dollar didn't soar, as many investors have already priced
in expectations for the Fed to continue winding down stimulus
measures as the year unfolds.
Meanwhile in the euro zone, official data earlier showed that
German industrial production rose 0.8% in January, more than the
expected 0.7% increase. Industrial production in December was
revised up to a 0.1% gain from a previously estimated 0.6%
Elsewhere, the dollar was up against the yen, with USD/JPY up
0.24% at 103.32, and down against the Swiss franc, with USD/CHF
down 0.29% at 0.8778.
The greenback was up against the pound, with GBP/USD down 0.10%
The dollar was up against its cousins in Canada, Australia and
New Zealand, with USD/CAD up 1.04% at 1.1096, AUD/USD down 0.25% at
0.9067 and NZD/USD down 0.19% at 0.8460.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was up 0.09% at
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