NEW YORK, Sep. 3, 2010 (Xinhua News Agency) -- The dollar continued to fall against the euro on Friday after a much-better-than-expected monthly jobs report eased market fear of a fading recovery.
According to the latest non-farm payroll report released by the Labor Department, U.S. economy lost 54,000 jobs in August, way better than the 110,000 losses economists had expected.
Even more encouraging was that private sector added a total of 67,000 new jobs last month, given that figures of the previous two months have been upwardly revised.
Meanwhile, the unemployment rate rose to 9.6 percent from July' s 9.5 percent, in line with market expectation, showing the economic recovery was still fragile.
The upbeat jobs report sent the dollar falling, and the Japanese Yen, often seen as a safer investment, also lost some steam against the dollar.
In late Friday trading, the euro rose to 1.2882 dollars from 1. 2812 late Thursday, while the British pound gained to 1.5449 dollars from 1.5389.
In other trading, the dollar rose to 84.43 Japanese yen from 84. 23, edged higher to 1.0186 Swiss francs from 1.0146, but dipped lower to 1.0394 Canadian dollars from 1.0544 late Thursday.
