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Forex - Dollar steadies against euro, yen after weak U.S. jobs report

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Investing.com -

Investing.com - The dollar was steady against the euro and the yen on Tuesday having regained almost all the ground lost in the wake of Friday's unexpectedly weak U.S. jobs report in the previous session.

EUR/USD was at 1.0932, off Monday's more than one-week highs of 1.1034.

The dollar moved broadly higher on Monday as concerns over recent signs of a slowdown in U.S. economic growth faded.

The dollar had fallen against the other major currencies after the Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February's gain and the smallest increase since December 2013.

The report added to doubts over the strength of the economic recovery prompted investors to push back expectations for a rate hike by the Federal Reserve to the end of the year from midyear.

The drop in the dollar was exacerbated by thin trading conditions due to a long holiday weekend. Markets in Europe reopened on Tuesday after remaining closed for the Easter holiday on Monday.

Meanwhile, USD/JPY was at 119.54, after falling as low as 118.71 on Friday.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies edged up to 97.29.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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